bitcoin is controlled

[Apocollapse]

controlling the ups and downs of the bitcoin price sounds very difficult but that doesn't mean it's impossible, for example war, the covid-19 pandemic and the movement of world economic flows also greatly affect the fluctuation of the bitcoin price, but in my opinion something bigger than that is the influence of media news which can be controlled by people who are very powerful, and of course it would be very easy to control the price of bitcoin if that could happen

If Bitcoin can be controlled, the person behind it already become rich since he has a way to control the Bitcoin price on the exact price, not to mention he's will be 100% correct about Bitcoin price guess contest. Who's the people who are very powerful? none, Elon Musk didn't even can control the Bitcoin price though he has a lot money.

What you're talking above is those people, article, news and economy condition could influence Bitcoin price, not to control Bitcoin price.

[nicolas1979]

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

Yes, if we monitor market movements, almost all altcoins follow the bitcoin chart. But we also have to monitor the charts of coins that have died on the exchange. If the chart also turns green but there is no change in orders, it means that the chart is only affected by Bitcoin, because there are orders for these coins in the form of BTC.

[Artem Sereda]

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

Not controlled, I would say the crypto market is influenced by bitcoin. Bitcoin enjoys the perks of being the biggest and oldest crypto. But the crypto market is not entirely influenced by bitcoin. There are multiple coins in the market which shows a contradicting pricing pattern. But when it comes to other big cryptos, they are usually a follower of the pricing trend of bitcoin. But they are not controlled in any way!

I would say that they are very susceptible to many factors. And this allows its price to be manipulated.

[ElmedoRator]

Yes, most of the major altcoins typically go up or down according to Bitcoin, which shows that Bitcoin still plays an important role as a benchmark for the crypto market. However, this does not mean that all altcoins are controlled by Bitcoin.

Altcoins have independent value, determined by a variety of factors, including supply and demand, information and news, and project development. However, in reality, the value of altcoins is often influenced by the price of Bitcoin. This is explained by the fact that many people buy and sell altcoins using Bitcoin or Ethereum, and the value of altcoins is measured in Bitcoin or Ethereum.

[Abiky]

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

Not Bitcoin, but the crypto market is largely controlled by whales and other industry players. They're the ones who move crypto assets in their favor with their own money. BTC is the #1 crypto in market cap, not because of the whales, but because it has first-mover advantage. After all, BTC is the first crypto that started this craze. Altcoins follow Bitcoin's "footsteps", because every exchange has BTC as the main trading pair. In other words, BTC is the reserve cryptocurrency of the market. Therefore, any price action related to Bitcoin, will quickly reflect on altcoins as well.

It's best to put most of your money into BTC, while leaving the rest on altcoins. That way, you would minimize risks of loss as much as possible. Most altcoins are centralized these days, so who knows if they disappear in the future? Just my opinion

[@sriyan]

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

We can not control bitcoin unless you have more than 50% ownership of the bitcoin. But there is nothing like that. Altcoins are following bitcoins due to money distribution. Because most of the owners of the altcoins are investing in bitcoin. When they get some profits, they will invest in altcoins. So the altcoin prices will increase.

[jossiel]

I would say that they are very susceptible to many factors. And this allows its price to be manipulated.

In every market, it's believed that manipulations do happen and that's inevitable.

When a market has got a lot of rich participations from whales and financial institutions, it's prone to manipulation. But with that said, they can have big or little impact given the situation.

And the main medium that they use for are the news that are scaring or giving good vibes.

[Yogee]

Influenced or controlled are pretty much the same in the case of bitcoin and its effect on altcoins. It doesn't really matter which term you prefer to use since it doesn't change the fact that BTC price movement dictates the overall market. These whales who moves bitcoin valuation are also moving altcoins in a way. Of course there are some that goes the opposite but that's just like around 1%.

[Abiky]

We can not control bitcoin unless you have more than 50% ownership of the bitcoin. But there is nothing like that. Altcoins are following bitcoins due to money distribution. Because most of the owners of the altcoins are investing in bitcoin. When they get some profits, they will invest in altcoins. So the altcoin prices will increase.

Not 50% of the coins, but rather 50% of the network's hashrate. There's a difference between ownership of coins in a PoS blockchain, and control of network hashrate in a PoW blockchain. Bitcoin is a PoW coin, so it can't be easily controlled by big players in the industry (mainly exchanges) unlike PoS coins like Ethereum and Solana. What can be controlled is the crypto market itself.

Whales have a lot of money "to play with", so they will move market prices either up or down depending on their needs. It'll up to you to play your cards right by buying/selling at the right time. As long as Bitcoin stays decentralized, nothing else matters. Just my thoughts

[Iyeman]

We can not control bitcoin unless you have more than 50% ownership of the bitcoin. But there is nothing like that. Altcoins are following bitcoins due to money distribution. Because most of the owners of the altcoins are investing in bitcoin. When they get some profits, they will invest in altcoins. So the altcoin prices will increase.

There's no need to have more than 50% of hashrate to control bitcoin. You can control it even if you have less than it as long as you did collusion to the another miners. This problem was happening since a long time ago where miners were always making collusion to take over the hashrate and they will able to reject or approve the improvement proposal. This is making bitcoin unhealthy. I don't like miners. Miners are nothing without buyers.

[DeathAngel]

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

Pretty much every altcoin has a trade pairing with Bitcoin. Most of them have trade pairings with Ethereum too. If you want to buy an altcoin on a centralised exchange then you will buy them with USD, bitcoin or Ethereum most likely.

It’s both a blessing & a disguise I guess. When bitcoin pumps most alts tend to pump with a lag. Lots of money can be made in alts, although many of them have no use case or no real future, you can use Bitcoin to get in & out of them with nice profits.

[kak uli]

the logic is like this, if someone controls Bitcoin then the price of bitcoin will be easily manipulated?
But so far I don't see anyone controlling it. The rise and fall of prices is only influenced by the media, not controlled. if there is bad news, usually the price of bitcoin has an effect and goes down on the market, so if for example there is good news, the price of bitcoin goes back up.
neh, therefore I don't think anyone controls Bitcoin.

[Johnyz]

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

Imagine the volume that you need to control Bitcoin, you must be a big whale to do this but I’m doubt. Bitcoin is not being controlled its just that the market is following its trend and many altcoins really depend on Bitcoin. Though price manipulation is possible by spreading hype and fud, since majority will react on this to take advantage of the trend or to protect their holdings from losing.

[Asiska02]

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

This is something I constantly consider. When bitcoin moves, the portfolio's altcoins follow suit. This common pattern makes me believe in bitcoin more because it controls the movement of others. Other altcoins may move but have no effect on the price of bitcoin, but when bitcoin moves, all other altcoins must follow. In the case of a bull run, it is impossible to overstate how all existing coins hit new ATH as bitcoin moves to a new ATH. I have no opinion and cannot make any assumptions about all of them being controlled.

[crzy]

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

There’s a rumor about this but I think whales can’t totally control the market, though they can influence it but its already a different approach. If you think Bitcoin price is manipulated, then try to know when to buy so you will not get trap if ever. Altcoins still follow the trend of Bitcoin because it is still the top coins that fully influence the market, any fud and news can make Bitcoin price move.

[CarnagexD]

the logic is like this, if someone controls Bitcoin then the price of bitcoin will be easily manipulated?
But so far I don't see anyone controlling it. The rise and fall of prices is only influenced by the media, not controlled. if there is bad news, usually the price of bitcoin has an effect and goes down on the market, so if for example there is good news, the price of bitcoin goes back up.
neh, therefore I don't think anyone controls Bitcoin.

I doubt that there are evidences that say Bitcoin is being manipulated. Its price is determined by market supply and demand and the market is highly volatile because of news and investor sentiment. But there's nothing wrong to be skeptic because the lack of regulation and transparency in the cryptocurrency market can make it susceptible to manipulation like insider trading and market manipulation by large players.

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

There’s a rumor about this but I think whales can’t totally control the market, though they can influence it but its already a different approach. If you think Bitcoin price is manipulated, then try to know when to buy so you will not get trap if ever. Altcoins still follow the trend of Bitcoin because it is still the top coins that fully influence the market, any fud and news can make Bitcoin price move.

Yeah. It is important to conduct thorough research and exercise caution to not get trapped in manipulation before making any investment decisions.

[Luffygroove]

While many altcoins are correlated with bitcoin's price movements, it doesn't necessarily mean they are all controlled. Cryptocurrency markets are unique and influenced by a variety of factors, including news events and investor sentiment. Technical analysis can be challenging, but there are other indicators such as cryptocurrency social media and FOMO indicators that can be helpful. Altcoins also have their own market dynamics and features that can differentiate them from bitcoin and affect their price. For example, altcoins might have a unique use case or be listed on a major exchange. Overall, the cryptocurrency market is complex and influenced by many factors beyond just bitcoin's price movements

[tvplus006]

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

No one is surprised by the fact that when the S&P500 index grows, then almost all securities increase in price. So why do you doubt that altcoins should also move after Bitcoin, since its dominance in the cryptocurrency market is predominant.

[GreatArkansas]

Since most of the major altcoins move up or down at the same time as bitcoin, aren't they all controlled? How does it work?

I believe that it's just correlated with Bitcoin. As you can also see that Bitcoin's dominance against all altcoins is extremely high, so what's to expect? Expect that it will be the common price action of most of the altcoins.
Some actions could be, after Bitcoin pumps, altcoin follows. And once Bitcoin go for sideways, most of the time altcoins will pump.

[carrie_white]

I think this is because bitcoin integrates with almost all altcoins, so that when the price of bitcoin goes down or goes up, it will also greatly affect the movement of altcoin prices significantly, but it does not rule out the possibility that bitcoin prices can be controlled by people in power.