Recent market manipulation shows the enormous potential to reach the moon!

[coolcoinz]

You need to realize what happened today does not increase the chances of approval. If anything a rejection is more likely because it demonstrates what types of manipulation can easily happen in the bitcoin markets.

It was a fake tweet and it ended up causing price to break $30K and then head back down again. So it easily could of wiped out many investors with that move. And this is what SEC might use as an example to not approve any spot etfs.

You have to be one dumb SEC member to think that this pump on fake news is something significant or a proof of manipulation.

I'm sure you know what happened to the price of gold when ETF was approved. It's obvious a similar thing will happen to bitcoin and people know it. The SEC knows it, Blackrock knows it, people who hold bitcoin and traders know it and that last group is responsible for the pump. Traders will buy when the approval finally comes and it's not their fault, nor the fault of bitcoin.
The only party responsible for the manipulation is Cointelegraph and they should pay for it.

[tabas]

It's like a ticking bomb ready to explode and yes, we're talking about the money that's waiting on the side lines when the right time comes.

But whatever it is, I feel that the current price of Bitcoin is still being held down by "them," but I don't know who they are. But no matter what, I'm still enjoying this Bitcoin journey while taking profits little by little and still waiting for the next ATH.

But I could be wrong about this so I am sorry.

We have no idea who they are but we're mostly going to agree to just let it say that they're the 'whales'. Well, that doesn't mean that they're literally the big players in the market but there's another description of them now just after how they're able to manipulate the price. And that means they're the literal manipulators of the market, we don't know how big or small they are or how significant all of them are or how synchronized they are.

[JoyMarsha]

What happened to bitcoin price caused me to think more deeply about what the bull run would look like when it happens.

The only news that triggered a rise in the price of Bitcoin within an hour of it being announced was the rumored SEC approval of a bitcoin ETF. What happens then if the Bitcoin halving is revealed on the day it is supposed to begin? How will people respond to it given that many people in the crypto space are aware of it, but few people are aware of what a bitcoin ETF is, despite that its rumored approval by the SEC significantly increased was seen at the price of bitcoin

[bbc.reporter]

The recent market manipulation with a fake news about SEC approving the BlackRock ETF showed the massive potential that exists in the bitcoin market to simply shoot to the moon and in a very short time too. In other words a lot of that money is waiting on bitcoin to make the first move to panic buy it "violently".

I disagree. It was only market manipulation, this was not money waiting to buy. Market manipulators pumped the bitcoin futures market which caused a liquidity cascade which liquidated the traders who were short selling bitcoin. After this when the traders bought long futures, they were also liquidated when the price dumped hehehehe.

This is not good for bitcoin because this type of market manipulation might give another reason for uncle Gary to disapprove on all spot ETF applications.

[pooya87]

which caused a liquidity cascade which liquidated the traders who were short selling bitcoin.

Interesting theory, but shouldn't that cause a significant drop in the number of shorts as they get liquidated? If you check out shorts on Tradingview and zoom out you can see that there were huge changes 2 weeks ago and the numbers barely change during the big jump on 16th.

[bbc.reporter]

which caused a liquidity cascade which liquidated the traders who were short selling bitcoin.

Interesting theory, but shouldn't that cause a significant drop in the number of shorts as they get liquidated? If you check out shorts on Tradingview and zoom out you can see that there were huge changes 2 weeks ago and the numbers barely change during the big jump on 16th.

Can you share a screenshot of the chart on tradingview?

This is a chart from coinalyze.net with the total aggregated open interest from the futures market of the biggest crypto exchanges. This clearly shows a short squeeze has occurred that liquidated short sellers. Also, the pump to $30k which immediately went down to $28k without much of a dump also shows it was a short squeeze.

[savetheFORUM]

Because of the economic hardship and because many markets are either in red or very risky, there has been a lot of money going into the bonds crap governments keep selling (to borrow money out of the investors' pockets) or is just "adrift" and is waiting to be invested in something.

The recent market manipulation with a fake news about SEC approving the BlackRock ETF showed the massive potential that exists in the bitcoin market to simply shoot to the moon and in a very short time too. In other words a lot of that money is waiting on bitcoin to make the first move to panic buy it "violently".

What happened today is also one of the reasons I insist that currently bitcoin is undervalued (under its intrinsic value).

A lot of people were not expecting Bitcoin to hit $30k and bounce back this quickly, though it looks like a great sign for most Bitcoin holders and short-term traders, I must say that what happened today was nothing less than a nightmare for futures traders as a lot of money must have been liquidated in a matter of few seconds when the market spiked and then dropped back to the position where it originally was before that big large spike.

This has definitely shown the potential the market carries and how quickly one can get some profit from this market, and if they are patient enough, they can fill their pockets with profits after some time. Short-term traders who bought when it was around $26k and might have had sell orders around $30k must be enjoying their time today.

[Franctoshi]

The kind of Manipulation recently experienced with the price of Bitcoin is something significant to pay more attention to, and even tighten our seat belts the more, having seen that we are a few months away from the next Bitcoin halving and as the end of the year, it can be entailed from the kind of huge candle stick with long wicks seen lately that the market manipulators are the current participants and actively buying the market right now, Which I do believe that most of them are trying to take their last position and further shake out the last set of sellers and buy from them.

[348Judah]

What happened to bitcoin price caused me to think more deeply about what the bull run would look like when it happens.

The only news that triggered a rise in the price of Bitcoin within an hour of it being announced was the rumored SEC approval of a bitcoin ETF. What happens then if the Bitcoin halving is revealed on the day it is supposed to begin? How will people respond to it given that many people in the crypto space are aware of it, but few people are aware of what a bitcoin ETF is, despite that its rumored approval by the SEC significantly increased was seen at the price of bitcoin

We have to remember that bitcoin ETF is not going to be the measure to why bullrun should occur or not, we all know that the effect of news has it own contributions towards affecting the market price but on a little effect just as we behold on recent fake news on bitcoin EFT approval, when we are in bull season, there will be a spontaneous rise and the volatility will be as very high than before, this normally comes after the halving, this is the only legitimate reason for bullrun that is reliable and sustainable enough to experience a massive rise in the market and a new all time high comes in after that.

[davis196]

1.It's true that a lot crypto investors are waiting for the Blackrock BTC ETF to be approved in order to start buying.
I don't think that this has anything to do with Bitcoin's intrinsic value. This is just a speculative bullish expectation.
Speculations have nothing to do with the intrinsic value of an asset. They just come and go.
2.The Bitcoin price went up by 10% for a short time frame. This isn't so impressive. We've seen the Bitcoin price doing way bigger ups in the past.
3.The possibility of a price crash/bearish market remains. Many "bears" are betting on a price drop, which will the "bull" on the market to lose money. There's no guarantee that the Blackrock Bitcoin ETF will be approved.

[lombok]

1.It's true that a lot crypto investors are waiting for the Blackrock BTC ETF to be approved in order to start buying.
I don't think that this has anything to do with Bitcoin's intrinsic value. This is just a speculative bullish expectation.
Speculations have nothing to do with the intrinsic value of an asset. They just come and go.
2.The Bitcoin price went up by 10% for a short time frame. This isn't so impressive. We've seen the Bitcoin price doing way bigger ups in the past.
3.The possibility of a price crash/bearish market remains. Many "bears" are betting on a price drop, which will the "bull" on the market to lose money. There's no guarantee that the Blackrock Bitcoin ETF will be approved.

My addition, why should an investor who is interested in Bitcoin and believes Bitcoin is an investment instrument capable of providing exponential profits in the long term wait for the SEC to authorize a Bitcoin ETF?

Isn't now the right time for them to come in? discounted prices, and if a BTC ETF is accepted in the future then they will quickly make a profit.

In my opinion, this is not a problem of under value or ETF. However, it is clear that there is still not much interest in re-entering the Bitcoin market and FOMO is still not in action. Many retail and large fund holders (whales) still want the lowest price to come back in, plus many analysts still say that BTC still has the potential to fall in price because the price is still below MA200, which means it is still in a bearish trend.

I am sure that if BTC is able to make an optimistic breakout on the MA200 line, this signal will be conveyed and heard by whales, institutions and retail so that FOMO will form into a bullish mode.

*Is it possible that people are starting to worry because the current world conditions are full of war, economic instability makes them distrust foreign currency and stocks and then switch to gold and of course Bitcoin? And the moment is really right, the prices of gold and Bitcoin are rising right now.

[bbc.reporter]

@lombok. On October 16 and 23, we have witnessed 2 pumps that have liquidated short sellers. On some news reports and new discovered information, it is speculated that Blackrock has begun buying bitcoin to seed their ETF. October 16 and 23 are Mondays. Tomorrow, October 30, is also a Monday.

We might witness another market pump and liquidate traders who are short selling on $35k? This will cause a liquidity cascade to $37k, I reckon.

[YUriy1991]

Recent market manipulation showed only that manipulators can do with the price whatever they want. Recent manipulation is not about reaching moon, it has showed how easy they can manipulate the price and how easily people believe in this artificial growth. Consider recent price growth as a test. It is said that the growth was triggered by fake news. It is easier to generate fake news, then do serious deals and take controversial decisions on the market. So expect more price jumps and drops soon.

Bitcoin is like digital gold and it is the perfect asset because it is trading in a bubble. Price movements are frequent and volatile meaning they are released at certain times and the above is considered another way to immediately Buy Bitcoin. There is no judgment, no one overseeing this process. That right. Anything that rises so much has plenty of room to fall back.

[lombok]

@lombok. On October 16 and 23, we have witnessed 2 pumps that have liquidated short sellers. On some news reports and new discovered information, it is speculated that Blackrock has begun buying bitcoin to seed their ETF. October 16 and 23 are Mondays. Tomorrow, October 30, is also a Monday.

We might witness another market pump and liquidate traders who are short selling on $35k? This will cause a liquidity cascade to $37k, I reckon.

All of this could happen in the Bitcoin market. Especially if the war gets hotter, I'm sure there will be a lot of money flowing into Gold and Bitcoin of course. I won't comment much on what price Bitcoin will reach, but Bitcoin will definitely continue to rise.

It would be good for blackrock if they started buying and holding BTC, we know that Blackrock is very impressive when it comes to investments, and there is no doubt about that. The fake ETF news regarding the SEC's acceptance of ETFs from Blackrock alone is able to excite the market, especially if it is true.

[Fundamentals Of]

I feel like there's really a huge amount of mostly institutional fiat that is about to be converted into Bitcoin with the right reason and timing. I can sense this with what's happening with Bitcoin lately.

If a fake signal of an approved Bitcoin spot ETF in the US couldn't stop the force of this big amount to somehow leak, how much more when the official announcement finally comes?

If a mere listing of BlackRock's IBTC on DTCC which was later on removed didn't stop a tiny portion of this amount to push the price of Bitcoin up to $35,000 very quickly, how much more when it is finally the spot ETF? If it crashed the DTCC network at that point, I can only imagine what the demand can do when it's finally the thing that everybody has been anticipating. $100,000 is easy sooner rather than later.

[Poker Player]

I feel like there's really a huge amount of mostly institutional fiat that is about to be converted into Bitcoin with the right reason and timing. I can sense this with what's happening with Bitcoin lately.
...

 I can only imagine what the demand can do when it's finally the thing that everybody has been anticipating. $100,000 is easy sooner rather than later.

Well, I wouldn't be so quick to jump the gun, as we were making similar predictions this cycle, where not a single prediction called for a high below $100K, and look how it turned out, at $69K. In approving spot ETFs I would obviously expect a price rise but also volatility, after the initial rise I would also expect ups and downs due to big whales placing massive buy or sell orders to fleece retail investors at opportune moments.

[BenCodie]

I feel like there's really a huge amount of mostly institutional fiat that is about to be converted into Bitcoin with the right reason and timing. I can sense this with what's happening with Bitcoin lately.

If a fake signal of an approved Bitcoin spot ETF in the US couldn't stop the force of this big amount to somehow leak, how much more when the official announcement finally comes?

If a mere listing of BlackRock's IBTC on DTCC which was later on removed didn't stop a tiny portion of this amount to push the price of Bitcoin up to $35,000 very quickly, how much more when it is finally the spot ETF? If it crashed the DTCC network at that point, I can only imagine what the demand can do when it's finally the thing that everybody has been anticipating. $100,000 is easy sooner rather than later.

Definitely. I an quite sure IBTC was actually added to the DTCC for a limited period, until it was delisted a few hours later. If this is the way it went, then this is less false news, and more the DTCC realizing the magnitude of their decision, and then rectifying it. The way it played out us is almost like someone from the SEC ordered it to be removed/delisted....

I think the market reaction during that 3-4 hour period, and following, is enough to see how monumental the news is and how much it can effect the market

[bbc.reporter]

@lombok. On October 16 and 23, we have witnessed 2 pumps that have liquidated short sellers. On some news reports and new discovered information, it is speculated that Blackrock has begun buying bitcoin to seed their ETF. October 16 and 23 are Mondays. Tomorrow, October 30, is also a Monday.

We might witness another market pump and liquidate traders who are short selling on $35k? This will cause a liquidity cascade to $37k, I reckon.

All of this could happen in the Bitcoin market. Especially if the war gets hotter, I'm sure there will be a lot of money flowing into Gold and Bitcoin of course. I won't comment much on what price Bitcoin will reach, but Bitcoin will definitely continue to rise.

It would be good for blackrock if they started buying and holding BTC, we know that Blackrock is very impressive when it comes to investments, and there is no doubt about that. The fake ETF news regarding the SEC's acceptance of ETFs from Blackrock alone is able to excite the market, especially if it is true.

The pump did not occur, however. We might need to wait for this next Monday ehehe. Also, if there is war, speculative assets similar to bitcoin might experience some inflows of investment but it might not be inflows as big as we will witness in gold. Gold and precious metals are the only assets that have always been considered real safe haven assets. Bitcoin has not proven itself for this.

[YUriy1991]

The pump did not occur, however. We might need to wait for this next Monday ehehe. Also, if there is war, speculative assets similar to bitcoin might experience some inflows of investment but it might not be inflows as big as we will witness in gold. Gold and precious metals are the only assets that have always been considered real safe haven assets. Bitcoin has not proven itself for this.

Not yet complete, but only market effects or psychological effects, this is because there are still many changes in the demand and supply of Bitcoin in the market, but I believe that the prospects for Bitcoin's growth are still quite promising from now on.

[Pierre 2]

That government issued bonds are really hard to calculate if profitable or not. All of them look gorgeous in theory. But when you think that if governments can repay those bonds, inflation may go even higher in future. That's why, mainly Bitcoin and Gold are very good assets to invest right now. But it takes too much patience to wait for Bitcoin price to raise meanwhile on your own, you are experiencing that inflation in your household. I wish I had extra income to buy more Bitcoin.