How can we stop centralized exchanges from manipulating the price of tokens - page 3.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: Ben_Cryptopolitan on October 08, 2019, 04:04:44 PM

While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?

nobody cares about the volume numbers on no-name chinese exchanges. anyone who has been around this space longer than a few months knows the numbers are bogus.

and how is wash trading "dropping the prices of tokens unnaturally"?

ololajulo

sr. member

Activity: 2240

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SOL.BIOKRIPT.COM

I never saw the altcoins' dump as centralized exchanges' fault although wash trading is very bad for the market as a whole. The dump of altcoin for bitcoin at the beginning of the year was just FOMO, we cant consider it the worst crypto decision in long run if some highly rated altcoins never got their rally until bitcoin's bull run.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: Ben_Cryptopolitan on October 08, 2019, 04:04:44 PM

How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?

We never had problems attracting new money. It just comes down to how the price of Bitcoin behaves. In Q2 of this year there was a lot money flowing into the ecosystem, which contributed to the massive increase we have seen. Fact of the matter is that capital enters when the market moves up. Currently the price action is so boring and bearish, that money is leaving the market.

Exchanges such as Bitforex will continue to wash trade, even when no one is using them. It's impossible to prevent them from doing so. The only thing you could do is start a petition to have index sites such as CMC remove them from their site. It would significantly reduce the exposure of exchanges like Bitforex.

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: Ben_Cryptopolitan on October 08, 2019, 04:04:44 PM

I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.

Did it and I found these.

OVER $6 BILLION IN DAILY TRADING VOLUME FAKED ACROSS TOP 100 EXCHANGES

https://www.reddit.com/r/Bibox/comments/7yuarq/bibox_wash_trading/

Crypto Exchanges Are Cleaning Up Wash Trading, BTI Says

Quote from: Ben_Cryptopolitan on October 08, 2019, 04:04:44 PM

How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?

Actually, we don't have to attract them, they will come in normally when they see the market shines again. This usually happens when they see the market starts to trigger a bull run. We're just now at the middle of bears and bulls but eventually, 'new money' from institutions will sudden come afterwards.

Ben_Cryptopolitan

newbie

Activity: 7

Merit: 0

While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?

I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.

Topic: How can we stop centralized exchanges from manipulating the price of tokens - page 3. (Read 503 times)