Bitcoin Whales Are Selling BTC Before Market Crash: Peter Schiff - page 3.

carriebee

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Quote from: ecnalubma on October 30, 2019, 12:04:16 PM

Quote

Peter Schiff ruthlessly shatters the dreams of Bitcoin holders who hope that the top coin will reach new highs, reiterating his point about market manipulations.

Peter Schiff, the CEO of Euro Pacific Capital, is not amused by Bitcoin's latest 40 percent price revival.

The world-famous gold proponent continues to insist that the crypto market is being manipulated by deep-pocketed whales.

In his latest tweet, Schiff states that large Bitcoin holders want to protect themselves from the upcoming market crash by selling their BTC and using delusional holders to cash in.

After numerous pundits tried to wrap their heads around the recent market rally, Schiff took to Twitter to share his own take on Oct. 28. He believes that this Bitcoin turnaround had nothing to do with China and everything to do with whales "suckering in" gullible buyers.

Schiff rose to stardom by accurately foreseeing the financial market crisis in 2008, but Bitcoin price predictions might not be his thing.

As reported by U.Today, he claimed that the BTC price could plunge to as low as $2,000 on Oct. 20, less than a week before Bitcoin recorded its third biggest daily gain in history.

His $4,000 prediction, which was made right after Bitcoin's precipitous plunge to the $8,000 level, also never came to fruition.

Source

Undeniably price manipulation often happens in unregulated crypto markets. Do you agree in this economist statement or do you oppose? Do you believe that recent price surge is cause by manipulation or natural demand?

Actually if we think what happen in the market last week you will just think twice because bitcoin price dramatically go down then in just a minute the price go higher like a rocket. So if it's a natural demand why the price is bounce like that. Obviously it's a manipulation of whales that till now playing the market. I think people don't panic when they see the price in the market is going down because whales get this opportunity to play the market again.

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Quote from: supercanada1 on November 04, 2019, 08:46:53 AM

Quote from: kapalmabur on November 03, 2019, 11:27:38 AM

many people have guessed bitcoin and predict the price but many have missed it,
in the telegram there are some BOT about bitcoin transaction information, we can see it there, if there are transactions with a lot of bitcoin we can predict whether the market will decline or not, that I think it's very helpful, I don't know if whales really sells all bitcoin, but we can see transactions so don't worry, we just follow the flow

No one is that stupid, especially whales. These are the people who like to be called as the owner of world’s most precious things. Bitcoin is now above all of other assets. It is impossible that whales will leave bitcoin. They never did. If any of them would commit such stupid act, he will be losing his present position. Such acts cannot hurt bitcoin for sure. If one whale leaves, other will takes it place.

People just like to sit down on their bed and imagine some things from their mind without fact and analysis, they make it known to the public and say it as if they are sure it is what is exactly happening. This is really a ridiculous thing to think that whales will be selling off their coin now that they are just accumulating.

If the op had said they are accumulating, I would have seen sense in it because what whales does is to look for the available opportunities to actually buy bitcoin at a lower price which they wait for the coin to really grow before making any step to actually sell and of course, they will never sell all the portion of what they had accumulated, they will only sell the little that they can sell while they await bull run for the remaining one.

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Quote from: deisik on November 06, 2019, 06:36:31 AM

Quote from: Sithara007 on November 04, 2019, 10:13:47 PM

Quote from: samcrypto on November 04, 2019, 05:56:42 PM

Creating panic so he can buy more and if you are on this market before you will realize this movement by the whales. Whales can sell anytime even without a crash and I don’t think bitcoin will crash that much especially now that a lot of good news supporting the pump and dump of bitcoin. We will go up because whales will stop from selling until we make new ATH again.

The last time I checked, we were less than 7 months away from the next block reward halving. Now I am not sure whether the bounce that results from the block reward halving will occur before the event or after that, but I am 99% certain that there will be a considerable spike as a result of that. During the block reward halving of 2012, we had a spike of 315x ($4 to $1260), while during the second block reward halving in 2016, the prices went up from $200 to $20,000 (100x)

This is all pure speculation

As you note further in your post, we went from lower 3k's to almost 14k (not 9k), and we did this feat without any halving. That actually leaves it open to discussion whether the coming halving will have such an impact on prices. Yeah, we would like to expect Bitcoin to rise past its 2017's highs. But if it rose so much without halving (i.e. thanks to speculation alone), it could as easily drop before or after the next halving. Each halving becomes less and less relevant since the reduction in the reward will be affecting the total supply in an ever smaller and smaller degree

We may not see such 1000% rise in price from bottom to peak like with the last halving of LTC, yet still, 200-300% price increase is a very possible thing.

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Quote from: Sithara007 on November 04, 2019, 10:13:47 PM

Quote from: samcrypto on November 04, 2019, 05:56:42 PM

Creating panic so he can buy more and if you are on this market before you will realize this movement by the whales. Whales can sell anytime even without a crash and I don’t think bitcoin will crash that much especially now that a lot of good news supporting the pump and dump of bitcoin. We will go up because whales will stop from selling until we make new ATH again.

The last time I checked, we were less than 7 months away from the next block reward halving. Now I am not sure whether the bounce that results from the block reward halving will occur before the event or after that, but I am 99% certain that there will be a considerable spike as a result of that. During the block reward halving of 2012, we had a spike of 315x ($4 to $1260), while during the second block reward halving in 2016, the prices went up from $200 to $20,000 (100x)

This is all pure speculation

As you note further in your post, we went from lower 3k's to almost 14k (not 9k), and we did this feat without any halving. That actually leaves it open to discussion whether the coming halving will have such an impact on prices. Yeah, we would like to expect Bitcoin to rise past its 2017's highs. But if it rose so much without halving (i.e. thanks to speculation alone), it could as easily drop before or after the next halving. Each halving becomes less and less relevant since the reduction in the reward will be affecting the total supply in an ever smaller and smaller degree

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Quote from: samcrypto on November 04, 2019, 05:56:42 PM

Quote from: jrrsparkles on November 03, 2019, 12:51:01 PM

We have to say like this "market gets crashed after whales selling their bitcoins",its nothing new to the bitcoin and its capable of manipulating with huge buy or sell orders in the desired phase they want to move but economist can't predict the manipulations unless they are one of a bitcoin whale.

Anyway what's his point to the people by making prices get manipulated,wants everyone to stay everyone from bitcoin market or he is saying about whale's strategy?

Creating panic so he can buy more and if you are on this market before you will realize this movement by the whales. Whales can sell anytime even without a crash and I don’t think bitcoin will crash that much especially now that a lot of good news supporting the pump and dump of bitcoin. We will go up because whales will stop from selling until we make new ATH again.

One of the most profitable strategy used by whales is moving the market in the wrong direction especially when there are lot of good news hanging around and investors might thing this is going to be a price boom in the near future but they will dump the market and crash most currencies prices then will buy back at more cheaper then the prices will starts to increase and investors will again start hoping for this will be bullish.

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We can't know for sure if the recent growth of cryptocurrencies is due to manipulation or natural demand. However, this is not so important, it is important that people invest in Bitcoin and the market lives by it. Now it is supported almost only on the desire of investors to profit from investments in cryptocurrencies. At the moment, there is no clear plan for the use of cryptocurrencies in the real economy. If this happens and digital money is used in the real economy, and not just for profit, we can say with confidence that the price change will be caused by natural demand.

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Quote from: samcrypto on November 04, 2019, 05:56:42 PM

Creating panic so he can buy more and if you are on this market before you will realize this movement by the whales. Whales can sell anytime even without a crash and I don’t think bitcoin will crash that much especially now that a lot of good news supporting the pump and dump of bitcoin. We will go up because whales will stop from selling until we make new ATH again.

The last time I checked, we were less than 7 months away from the next block reward halving. Now I am not sure whether the bounce that results from the block reward halving will occur before the event or after that, but I am 99% certain that there will be a considerable spike as a result of that. During the block reward halving of 2012, we had a spike of 315x ($4 to $1260), while during the second block reward halving in 2016, the prices went up from $200 to $20,000 (100x).

It is difficult to predict how much the prices will go up, but so far this year we had a 3x increase (from $3,100 to $9,400). If what happened in 2012 and 2016 repeats in 2020, then we can expect BTC to go up by anywhere from $100,000 to $250,000 per coin (from the base price of $3,100 that represents an increase of 33x to 80x). At this point, I would say that only fools would consider selling their coins. Now it is time to hold them and wait for the bounce from the reward halving.

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Quote from: uray on November 04, 2019, 07:10:15 PM

Quote from: exstasie on November 04, 2019, 05:24:33 PM

Totally! I think Peter Schiff is a huge positive for Bitcoin. He talks so much shit because he knows Bitcoin's properties make it a great competitor to gold.

It is not a good comparison to make as both have their importance and gold is historically used as a store of value and it will be like that for centuries and bitcoin is a new market which has many properties and i do not want to see that getting restricted simply as a store of value or a speculative coin, i want to see bitcoin as a currency first and a combination of everything.

Sadly most people are using btc as a store of value. If you forgot there are a lot of investors who are holding long term waiting for the price to reach another peak. How are we able to turn btc as a currency if people keeps on hoarding btc? This is somehow a kind of challenge that btc and cryptocurrency is facing right now. We want it to become a currency more than just a store of value but people aren't showing some interest in that area.

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Quote from: ecnalubma on October 30, 2019, 12:04:16 PM

Quote

Peter Schiff ruthlessly shatters the dreams of Bitcoin holders who hope that the top coin will reach new highs, reiterating his point about market manipulations.

Peter Schiff, the CEO of Euro Pacific Capital, is not amused by Bitcoin's latest 40 percent price revival.

The world-famous gold proponent continues to insist that the crypto market is being manipulated by deep-pocketed whales.

In his latest tweet, Schiff states that large Bitcoin holders want to protect themselves from the upcoming market crash by selling their BTC and using delusional holders to cash in.

After numerous pundits tried to wrap their heads around the recent market rally, Schiff took to Twitter to share his own take on Oct. 28. He believes that this Bitcoin turnaround had nothing to do with China and everything to do with whales "suckering in" gullible buyers.

Schiff rose to stardom by accurately foreseeing the financial market crisis in 2008, but Bitcoin price predictions might not be his thing.

As reported by U.Today, he claimed that the BTC price could plunge to as low as $2,000 on Oct. 20, less than a week before Bitcoin recorded its third biggest daily gain in history.

His $4,000 prediction, which was made right after Bitcoin's precipitous plunge to the $8,000 level, also never came to fruition.

Source

Undeniably price manipulation often happens in unregulated crypto markets. Do you agree in this economist statement or do you oppose? Do you believe that recent price surge is cause by manipulation or natural demand?

yeah i also think like that maybe the rise in bitcoin yesterday was manipulated by the pope. we know that they have large amounts of bitcoin and every sale or purchase can have an impact on the price of bitcoin. but sometimes bitcoin price fluctuations can also be influenced by the news. and maybe the news about the statement of the Chinese president who supported the blockchain yesterday also affected bitcoin. in conclusion I also do not know exactly what caused bitcoin to pump yesterday.

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Quote from: exstasie on November 04, 2019, 05:24:33 PM

Totally! I think Peter Schiff is a huge positive for Bitcoin. He talks so much shit because he knows Bitcoin's properties make it a great competitor to gold.

It is not a good comparison to make as both have their importance and gold is historically used as a store of value and it will be like that for centuries and bitcoin is a new market which has many properties and i do not want to see that getting restricted simply as a store of value or a speculative coin, i want to see bitcoin as a currency first and a combination of everything.

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Quote from: dothebeats on November 03, 2019, 02:52:43 PM

While the dude may have differing opinions on bitcoin from the rest of us, he's actually talking some sense when he said that bitcoin whales are selling off firstly before everyone else noticed. Usually the whales are the market movers, and tend to do the first move before everyone else follows suit. It's a rather crude observation but he's correct and there's nothing wrong with it, although the difference is he tends to end at that notion without giving out some positive credit to the crypto market.

Manipulation is rampant in bitcoin, and if you deny it wholeheartedly and only applaud the gains and not the losses, then you're clearly deluded.

People sometimes talking that it's the market manipulation for the sake of some fairy tale story even they knew they can't prove it. Okay let's say someone with 10,000 bitcoin in his wallet are continuously selling bitcoin in the market for 10 days consecutively with no intention to manipulate just wanted to sell it all... where people tired with the market being stuck for over 5 months , what do you think the market response on that 10,000 bitcoin sales?

Of course there's a little number only who can stay buying the coins while the one who selling his 10,000 bitcoin is still trying to sell it at it's best price. At this point the market slowly forming into a bearish trend .... so is it called as a manipulation now? That would always be a mystery what is actually those whales looking for with that move? Then we are simply sum it up as a manipulation price in purpose which it's pure speculation.

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Quote from: jrrsparkles on November 03, 2019, 12:51:01 PM

We have to say like this "market gets crashed after whales selling their bitcoins",its nothing new to the bitcoin and its capable of manipulating with huge buy or sell orders in the desired phase they want to move but economist can't predict the manipulations unless they are one of a bitcoin whale.

Anyway what's his point to the people by making prices get manipulated,wants everyone to stay everyone from bitcoin market or he is saying about whale's strategy?

Creating panic so he can buy more and if you are on this market before you will realize this movement by the whales. Whales can sell anytime even without a crash and I don’t think bitcoin will crash that much especially now that a lot of good news supporting the pump and dump of bitcoin. We will go up because whales will stop from selling until we make new ATH again.

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Quote from: buwaytress on November 03, 2019, 10:34:54 AM

I personally think guys like Schiff do more for Bitcoin than against -- if it wasn't for the fervour with which people attack Bitcoin so much, others wouldn't want to look into it.

Totally! I think Peter Schiff is a huge positive for Bitcoin. He talks so much shit because he knows Bitcoin's properties make it a great competitor to gold. What he doesn't realize is that constantly exposing his followers to Bitcoin will eventually turn some of them into converts. After all, gold bugs have a lot in common with bitcoiners: they want a limited supply store-of-value to hedge against fiat devaluation. Bitcoin fits that description perfectly.

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Quote from: ecnalubma on October 30, 2019, 12:04:16 PM

Quote

Peter Schiff ruthlessly shatters the dreams of Bitcoin holders who hope that the top coin will reach new highs, reiterating his point about market manipulations.

Peter Schiff, the CEO of Euro Pacific Capital, is not amused by Bitcoin's latest 40 percent price revival.

The world-famous gold proponent continues to insist that the crypto market is being manipulated by deep-pocketed whales.

In his latest tweet, Schiff states that large Bitcoin holders want to protect themselves from the upcoming market crash by selling their BTC and using delusional holders to cash in.

After numerous pundits tried to wrap their heads around the recent market rally, Schiff took to Twitter to share his own take on Oct. 28. He believes that this Bitcoin turnaround had nothing to do with China and everything to do with whales "suckering in" gullible buyers.

Schiff rose to stardom by accurately foreseeing the financial market crisis in 2008, but Bitcoin price predictions might not be his thing.

As reported by U.Today, he claimed that the BTC price could plunge to as low as $2,000 on Oct. 20, less than a week before Bitcoin recorded its third biggest daily gain in history.

His $4,000 prediction, which was made right after Bitcoin's precipitous plunge to the $8,000 level, also never came to fruition.

Source

Undeniably price manipulation often happens in unregulated crypto markets. Do you agree in this economist statement or do you oppose? Do you believe that recent price surge is cause by manipulation or natural demand?

While I have always been cautious about he opinions of those that very clearly have opposite goals than the ones bitcoin has, I think that Peter Schiff has a point, the recent market recovery may have been good news for those which love to speculate with the price but I do not think it is good news for long term holders, the move looked manipulated to me, and then I asked myself what was the point of the manipulation? And most likely this was orchestrated by the whales to give themselves more time to sell their coins.

This way they can sell for a high price while everyone is holding expecting even greater returns only for the price to crash close to the levels it was before all of this happened.

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Quote from: kapalmabur on November 03, 2019, 11:27:38 AM

Quote from: Google+ on November 03, 2019, 09:49:04 AM

I think the price of bitcoin at the exchange has nothing to do with Peter Schiff, because I feel he is only one of the people who are predicting the ups and downs of prices and all who do that I feel can be inaccurate and just guessing, bitcoin will never be predictions will have price movements where it depends on demand from the exchange place.

many people have guessed bitcoin and predict the price but many have missed it,
in the telegram there are some BOT about bitcoin transaction information, we can see it there, if there are transactions with a lot of bitcoin we can predict whether the market will decline or not, that I think it's very helpful, I don't know if whales really sells all bitcoin, but we can see transactions so don't worry, we just follow the flow

No one is that stupid, especially whales. These are the people who like to be called as the owner of world’s most precious things. Bitcoin is now above all of other assets. It is impossible that whales will leave bitcoin. They never did. If any of them would commit such stupid act, he will be losing his present position. Such acts cannot hurt bitcoin for sure. If one whale leaves, other will takes it place.

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While the dude may have differing opinions on bitcoin from the rest of us, he's actually talking some sense when he said that bitcoin whales are selling off firstly before everyone else noticed. Usually the whales are the market movers, and tend to do the first move before everyone else follows suit. It's a rather crude observation but he's correct and there's nothing wrong with it, although the difference is he tends to end at that notion without giving out some positive credit to the crypto market.

Manipulation is rampant in bitcoin, and if you deny it wholeheartedly and only applaud the gains and not the losses, then you're clearly deluded.

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Quote from: fiulpro on November 03, 2019, 09:06:50 AM

Been 3 days already and I think the amount of Bitcoins being sold is kind of balancing the amount of Bitcoins that are being Brought therefore I think , it will go fine even if they decide to sell a huge amount of Bitcoins , infact I don't think they will do that though since more or so , if they would have done that the market would have crashed already .
Let's just hope it's a hoax .

you don't need to wait 51% attack to manipulate the market.

20% or 40% combined from several people is enough to make a lot of people panic and following what they do, at this point it seems they successfully make it happened, to bring the sheep go down first and when there a lot of people selling it already, they do buying all at once that causing surges more than 30% nearly 40% i guess.
it is something that we cannot avoided to feel or think that there is a market manipulation happening.

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Quote from: ecnalubma on October 30, 2019, 12:04:16 PM

Undeniably price manipulation often happens in unregulated crypto markets. Do you agree in this economist statement or do you oppose? Do you believe that recent price surge is cause by manipulation or natural demand?

I am pro Bitcoin so definitely I do not agree with Peter Schiff. He is so biased when it comes to Bitcoin and very biased when it comes to gold. I believe the current price surge is not manipulated and the price is just getting normalized because the previous dump was the one manipulated one and the dump cannot be sustained, that is why Bitcoin rally in just a short period of time.

BChydro

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indeed many have been helped financially by bitcoin, but many people have fallen because of bitcoin. I think in this crypto world, who can take advantage of opportunities, it is he who can benefit from bitcoin. therefore study the world of crypto carefully, before we enter it

If you are aware of the market and have the basic knowledge to evaluate the market then you will not end up in a loss and if anyone lost money because of bitcoin then there is no way they are fit to trade in a volatile market like bitcoin, taking care of opportunity means you need to learn about the market first and monitor the market for a long time and learn the past charts and if you do these basics then you will not end up in a loss and if you are lazy enough to do those basics then no one can help you.

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We have to say like this "market gets crashed after whales selling their bitcoins",its nothing new to the bitcoin and its capable of manipulating with huge buy or sell orders in the desired phase they want to move but economist can't predict the manipulations unless they are one of a bitcoin whale.

Anyway what's his point to the people by making prices get manipulated,wants everyone to stay everyone from bitcoin market or he is saying about whale's strategy?

Topic: Bitcoin Whales Are Selling BTC Before Market Crash: Peter Schiff - page 3. (Read 898 times)