I think BTC price is being played. Either a consortium of whales or a country with enormous assets is creating spikes and sell-offs. You can see them being careful not to scare the market… just a little here and there. Is this a conspiracy theory or is it possible?
of course it is
No way it’s too decentralized
to manipulate it you would need to coordinate 100,000 people or else have a few billion to play with
Its definitely not farfetched sounding, a few thousand people trying to control the market, its happened before with in other financial sectors so I can see why people would think this. But do I think its happening now? No, I dont, like someone said above, its too decentralized.
There are bitcoin whales (companies or people that have enormous amounts of Bitcoins) who could be manipulating Bitcoin price.
Meaning that Bitcoin isn’t as decentralized as many imagine it to be.
something is definitely up with the way the price moves
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It looks like there is at least some manipulation going on with bitcoin price
They are saying there will be another pump and dump late this year leading into the holidays. Could be a good way to make some bucks even if it is manipulated. Who cares? Just don’t hold your BTC for a long time
I care because I want to see cryptos succeed in general. If the whales continue to play us all for fools, cryptos will die
Exactly. We know that the cryptos that are in circulation now are not practical as an every day currency. And when the whales rig the price, cryptos are also not useful as an investment. So basically those of us who are fans of cryptos and want them to succeed are seriously getting played.
Anyone know how they prevent this type of thing with other securities?
Other securities are not anonymous. So if there are suspicious trades, regulators can investigate and hold traders accountable.
bitcoin is also not completely anonymous even though people like to say it is.
This sounds really far-fetched.