Is it just me or is the Bitcoin price nothing more than a puppet - page 2.

jaocoincrypto18

full member

Activity: 630

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Quote from: russelluk on March 12, 2018, 11:34:25 AM

Not sure what others think but I am getting pretty sick of how the Bitcoin price just goes up and down 5 to 10 per cent with absolutely no external factors driving this. I know its been said before but this is just manipulation of the highest degree. So we all sit around and wait for few Whales to dump and all stupidly buy in so they get the money and lo and behold when it goes down 800 bucks they buy back in and we all follow like sheep to lose again. Seriously Bitcoin has to either start behaving like a store of value or have some practical application as a currency.

Big whales are already part of any investments either fiat platform or Bitcoin platform in which their presence is always there of course because of the money in which they can manipulate the price of commodities.Therefore we should used to it and always put in mind that these people are already part of the risk if we join the Bitcoin as investments.

yonton

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If you just hold long term you won't have to worry about it

gentlemand

legendary

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Welt Am Draht

It has always been thus. As long as you're aware of what's happening then you're in a fine position. It's still the plaything of a small bunch of people. You either need to make your peace with that and wait for them to be drowned by increased demand, or throw in the towel.

The way to win is not to play. If you believe in Bitcoin long term then don't fall for these games, pace your buys and hope that the rest of the world catches on relatively soon.

aeternus

sr. member

Activity: 686

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Quote from: russelluk on March 12, 2018, 11:34:25 AM

Not sure what others think but I am getting pretty sick of how the Bitcoin price just goes up and down 5 to 10 per cent with absolutely no external factors driving this. I know its been said before but this is just manipulation of the highest degree. So we all sit around and wait for few Whales to dump and all stupidly buy in so they get the money and lo and behold when it goes down 800 bucks they buy back in and we all follow like sheep to lose again. Seriously Bitcoin has to either start behaving like a store of value or have some practical application as a currency.

The price is being manipulated we all know that but that happens in all the markets so it is no really anything to be surprised about, the reason of why bitcoin is affected more by the manipulation has to do with its small size compared to other markets when bitcoin finally becomes big enough then the manipulation will still be there but the price will move less thanks to all the additional money and investors in the market.

sjefdeklerk

jr. member

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SODL

Quote from: russelluk on March 12, 2018, 11:34:25 AM

Not sure what others think but I am getting pretty sick of how the Bitcoin price just goes up and down 5 to 10 per cent with absolutely no external factors driving this. I know its been said before but this is just manipulation of the highest degree. So we all sit around and wait for few Whales to dump and all stupidly buy in so they get the money and lo and behold when it goes down 800 bucks they buy back in and we all follow like sheep to lose again. Seriously Bitcoin has to either start behaving like a store of value or have some practical application as a currency.

So you're happy it broke out the range and it's crashing now?

Proton2233

sr. member

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I agree with you. Now the situation such a. All cryptocurrencies are used only as a speculative tool. But I believe that this situation will change after the issue of transactions is resolved. Until then, it is not profitable to use bitcoin as a currency. We all want to make money on the rise in price of coins. Therefore, we keep coins in our wallets and do not promote the development of bitcoin trading.

Virtual miner

sr. member

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Quote from: russelluk on March 12, 2018, 11:34:25 AM

Not sure what others think but I am getting pretty sick of how the Bitcoin price just goes up and down 5 to 10 per cent with absolutely no external factors driving this. I know its been said before but this is just manipulation of the highest degree. So we all sit around and wait for few Whales to dump and all stupidly buy in so they get the money and lo and behold when it goes down 800 bucks they buy back in and we all follow like sheep to lose again. Seriously Bitcoin has to either start behaving like a store of value or have some practical application as a currency.

See it's not only about you or me, right now everybody is worried about the market conditions.

But trust me, smart people know how to perfectly make use of this manipulative market conditions.

It's the time to buy the coins now and hold the ones you already have.

In such a situation, instead of getting anxious, act smart and make thoughtful moves.

MoonIsBlue

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Quote from: russelluk on March 12, 2018, 11:34:25 AM

Not sure what others think but I am getting pretty sick of how the Bitcoin price just goes up and down 5 to 10 per cent with absolutely no external factors driving this. I know its been said before but this is just manipulation of the highest degree. So we all sit around and wait for few Whales to dump and all stupidly buy in so they get the money and lo and behold when it goes down 800 bucks they buy back in and we all follow like sheep to lose again. Seriously Bitcoin has to either start behaving like a store of value or have some practical application as a currency.

I agree there is manipulation but there's also a lack of liquidity that gives BTC its volatility and also other coins. If you are in a highstake position on BTC and it rises 500$, thats a great return per BTC especially if you're then also trading on margin/leverage. So if you have 100 BTC for example a 500$ would equate to a profit of $50k and thats in 1-2 days, if you're then on 5x leverage the profit is even more astonishing. So there are a lot of factors to keep in mind. Also people generally complain that the market is manipulated when it goes down but nobody thanks mr Whale for manipulating the market up even if its just for his own agenda, a lot of people profit on that, same goes for altcoins. Stock market is also heavily manipulated but most people here in crypto don't have a lot of experience with stocks. There are some big players that will cause a dip in the price of a commodity or stock to trigger stop losses and buy up all the shares to profit on them later when people start buying back into it.

russelluk

member

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I take your point. My main concern with Bitcoin right now is that if you watch the price action it follow neat little jumps and drops that are almost square like.

Xavofat

hero member

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Did you see that ludicrous display last night?

The Bitcoin price is fairly easy to manipulate, since many of the major exchanges (such as Bitfinex) are poorly regulated. There could be far more market manipulation than we would even imagine.

Also, since it's a new technology, new people tend to leap in very easily when the price rises, without really thinking about potential risks and dramatic price swings.

Still, what you're forgetting here is that there's plenty of speculation about manipulation in the gold market and mainstream financial markets as well. It can be common on legitimised exchanges as well.

Even assets which behave "like a store of value" can still fluctuate in value, because there aren't many good ways of preserving the value of capital over a very long period.

russelluk

member

Activity: 158

Merit: 10

Not sure what others think but I am getting pretty sick of how the Bitcoin price just goes up and down 5 to 10 per cent with absolutely no external factors driving this. I know its been said before but this is just manipulation of the highest degree. So we all sit around and wait for few Whales to dump and all stupidly buy in so they get the money and lo and behold when it goes down 800 bucks they buy back in and we all follow like sheep to lose again. Seriously Bitcoin has to either start behaving like a store of value or have some practical application as a currency.

Topic: Is it just me or is the Bitcoin price nothing more than a puppet - page 2. (Read 361 times)