Is Bitcoin in a pump and dump cycle?

ir.hn

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Consensus is Constitution

Quote from: ThunderCatSteve on November 28, 2017, 09:20:14 AM

Quote from: ir.hn on November 24, 2017, 04:10:04 AM

Quote from: Dreamr on November 24, 2017, 04:07:11 AM

I don't think so because bitcoin is far beyond that. Altcoins got such things by big whales. I think bitcoin is high due to CME announced introducing bitcoin trading by the end of this year.

Truthfully the parabolic rise started when china banned exchanges. I'm thinking the lack of bitcoin supply from china has created a shortage, raising the price. But is this all a pump and dump scheme by the Chinese government perhaps?

There is no doubt in it that the prices actually started rising up after China banned Bitcoin exchanges if I am not wrong then the prices actually declined in the beginning. China has a great influence over the digital Market I don't think so it controls the supply of Bitcoin in the market. If whatever you are saying is true and I think it is a very good scheme by Chinese government.

Yep and I think China will implement their own State Run (or secretly state run, like how alibaba is state run) exchange which will regulate the bitcoin price by regulating supply and demand in China.

Price may have dropped temporarily when china banned exchanges based on the bad news but the lack of supply from china virtually immediately started pumping the price.

ThunderCatSteve

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Quote from: ir.hn on November 24, 2017, 04:10:04 AM

Quote from: Dreamr on November 24, 2017, 04:07:11 AM

I don't think so because bitcoin is far beyond that. Altcoins got such things by big whales. I think bitcoin is high due to CME announced introducing bitcoin trading by the end of this year.

Truthfully the parabolic rise started when china banned exchanges. I'm thinking the lack of bitcoin supply from china has created a shortage, raising the price. But is this all a pump and dump scheme by the Chinese government perhaps?

There is no doubt in it that the prices actually started rising up after China banned Bitcoin exchanges if I am not wrong then the prices actually declined in the beginning. China has a great influence over the digital Market I don't think so it controls the supply of Bitcoin in the market. If whatever you are saying is true and I think it is a very good scheme by Chinese government.

iv4n

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Quote from: ir.hn on November 24, 2017, 11:54:02 AM

Quote from: talkbitcoin on November 24, 2017, 05:25:30 AM

it is clear that you do not understand what pump and dump means.

pump and dump is a process where you increase the price of an asset which is worthless, to an unrealistic price with purely manipulation. the best example of this is if you look at the altcoins that go up in price. they have no usage and no real value, but they go up in price purely based on manipulation.

a pump never lasts long, because you are artificially increasing the price against the market. and market tends to correct itself at all times, keeping it up requires a lot of money and everyone wants to make money not to spend.
and as the name suggests it is called pump and dump not just pump. the dump is inevitable and soon after the pump not years after it!

with this explanation if you look at bitcoin price, you can see it is a solid rise with drops which are not as big as the rise aka corrections.

Well it has doubled in price in 2 months so I think that could definitely qualify as a pump. If more power players latch on during this pump (like amazon accepting bitcoin) it could turn the pump into a bubble but yes eventually the dump would happen. Who knows how long it could take. With small alt coins it could take weeks or months but since bitcoin is the biggest player it could take years. The players involved here are billionares so they have access to the best market research money can buy and will know just how high they can pump it before they dump.

Its not necessary to call that a pump! Two years ago many comments here were stating that someone is holding back the price of bitcoin. I said it before, its not impossible, someone with huge amount of bitcojns can control the supply and with that to hold back the price. Popularity of bitcoin raised a lot this year, and this can be a natural grow. People are more interested in bitcoins, and corporations, governments, some of them legalized bitcoin, and many other good things happened to bitcoin this year.
If you wish to see things objectively every market is pump and dump cycle, as demand and supply goes up or down price is doing the same. With every market can be manipulated and here bitcoin is not an excuse. Bitcoin will experience many more pumps and dumps before it settle, and that will happen in many years for now!

ir.hn

member

Activity: 322

Merit: 54

Consensus is Constitution

Quote from: talkbitcoin on November 24, 2017, 05:25:30 AM

it is clear that you do not understand what pump and dump means.

pump and dump is a process where you increase the price of an asset which is worthless, to an unrealistic price with purely manipulation. the best example of this is if you look at the altcoins that go up in price. they have no usage and no real value, but they go up in price purely based on manipulation.

a pump never lasts long, because you are artificially increasing the price against the market. and market tends to correct itself at all times, keeping it up requires a lot of money and everyone wants to make money not to spend.
and as the name suggests it is called pump and dump not just pump. the dump is inevitable and soon after the pump not years after it!

with this explanation if you look at bitcoin price, you can see it is a solid rise with drops which are not as big as the rise aka corrections.

Well it has doubled in price in 2 months so I think that could definitely qualify as a pump. If more power players latch on during this pump (like amazon accepting bitcoin) it could turn the pump into a bubble but yes eventually the dump would happen. Who knows how long it could take. With small alt coins it could take weeks or months but since bitcoin is the biggest player it could take years. The players involved here are billionares so they have access to the best market research money can buy and will know just how high they can pump it before they dump.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

it is clear that you do not understand what pump and dump means.

pump and dump is a process where you increase the price of an asset which is worthless, to an unrealistic price with purely manipulation. the best example of this is if you look at the altcoins that go up in price. they have no usage and no real value, but they go up in price purely based on manipulation.

a pump never lasts long, because you are artificially increasing the price against the market. and market tends to correct itself at all times, keeping it up requires a lot of money and everyone wants to make money not to spend.
and as the name suggests it is called pump and dump not just pump. the dump is inevitable and soon after the pump not years after it!

with this explanation if you look at bitcoin price, you can see it is a solid rise with drops which are not as big as the rise aka corrections.

kevoh

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Activity: 448

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I think people are beginning to see bitcoin as a valid store of value in the hands of many, hence the difficulty in pump and dumping bitcoin. As it stands, only effective way to cause a dump that affects Bitcoin, like Roger Ver did with BCH , is to create negative rumors. The thing is, as it stands Bitcoin hodlers are beginning to see through these rumors that causes FUDs and keep firm in hodling.

bamboylee

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In 2015, you can still say that there are pump and dump when the price was still quite low and very few people have bitcoins in their hands. But since then, the price have grown so high and there are more people holding bitcoin. It will be harder to manipulate the price to go for somebody's favor. I do not think there are group of people who have enough bitcoin to move the price this huge. They cannot possibly pump up to 150K. And even if most people say they'll hold up to 200K, you can't trust that. Once it reach 10K, they'll probably dump.

AVAMONEY

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Pump it then dump it for profit, this condition already happened several times. You want to say that bitcoins bubble,
Many people has been prediction bitcoins will deep fall after reaching $7k-8K, but nothing happen. So i will not worried even bitcoins going to $100k - $150k, since many company will adopt this as payment method or using bitcoins in alternative payment online shopping.

ir.hn

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Activity: 322

Merit: 54

Consensus is Constitution

Quote from: Dreamr on November 24, 2017, 04:07:11 AM

I don't think so because bitcoin is far beyond that. Altcoins got such things by big whales. I think bitcoin is high due to CME announced introducing bitcoin trading by the end of this year.

Truthfully the parabolic rise started when china banned exchanges. I'm thinking the lack of bitcoin supply from china has created a shortage, raising the price. But is this all a pump and dump scheme by the Chinese government perhaps?

ir.hn

member

Activity: 322

Merit: 54

Consensus is Constitution

Quote from: steadyrice on November 24, 2017, 04:06:55 AM

Well in order for a pump and dump scheme to be possible, a significant amount of the coin has to be owned by a relatively small group of people. Are there any hard facts pointing towards this? I've been hearing this idea thrown around for some time now, but haven't seen much supporting evidence.

Not sure has anyone seen any data on this? We can sort of assume it though based on the gigantic scale of many of the largest bitcoin mines.

Dreamr

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I don't think so because bitcoin is far beyond that. Altcoins got such things by big whales. I think bitcoin is high due to CME announced introducing bitcoin trading by the end of this year.

steadyrice

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Well in order for a pump and dump scheme to be possible, a significant amount of the coin has to be owned by a relatively small group of people. Are there any hard facts pointing towards this? I've been hearing this idea thrown around for some time now, but haven't seen much supporting evidence.

ir.hn

member

Activity: 322

Merit: 54

Consensus is Constitution

We all have experienced alt coin pump and dumps. If bitcoin were ever in such a scheme it would be orders of magnitude larger. We know it can happen and the biggest risk factor is a large concentration of coins in few hands, which consolidation has likely happened with bitcoin. So could this moonshot really just be the worlds largest pump and dump in world history? They have done research that shows the average bitcoin holder (hodler) will hold until $200,000. Will they pump it to say $150,000 then dump it? Could this scheme be to ultimatly crash bitcoin and promote a more bank friendly crypto and enact draconian crypto regulations?

Topic: Is Bitcoin in a pump and dump cycle? (Read 333 times)