Topic: Will Bitcoin be artificially lowered by banks just like gold/silver? - page 2. (Read 235 times)
July 19, 2021, 02:27:36 AM
If they can become whales yes they can probably artificially lower the prices and I don't think that it's nothing to scoff at because they are probably going to make the artificial drop a hard one because as it's a decentralized system, they will try to establish authority.
July 19, 2021, 01:13:58 AM
Will (and can) Bitcoin be artificially lowered by banks just like did with gold/silver?
Yes! Banks and deep-pocketed financial corporations can indeed manipulate bitcoin and give whatever direction they want! Such kind of manipulations are happening in crypto market since long but in small scales. But when billions of dollars are exchanges in crypto market, it certainly has the power to manipulate bitcoin market. That's why when big corporates are investing billions into crypto market, that's never a good news to me!
We have seen what a tweet from Elon Musk can do to the market. So when corporations hold too much of bitcoins that is publicly known, you can understand the impact they can create in the market. As of now, not a lot of corporates have shown interest into bitcoin but the interest is constantly rising. This may very well go against small holders like us!
July 19, 2021, 12:10:22 AM
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From a whales perspective, it doesn't make sense to jump in to drive the price up from here. Because the little guys are already stacking harder than they have ever.
Maybe not push the price that high but it makes sense for whales to step in to defend a floor price and counter those who wants to drive it lower like institutions and banks.From a whales perspective, it doesn't make sense to jump in to drive the price up from here. Because the little guys are already stacking harder than they have ever.
Will the little guys end up holding the bags (like they always end up doing)?
Who knows what others would do. The market is filled with long-term investors and speculators.
July 18, 2021, 09:50:20 PM
Pretty hard to say, really. There will always be stackers with any price; and I'm really not sold on the thought that whales have almost total control over the markets.
But my gut says that bitcoin does have a good amount of room to drop as well, as the cryptocurrency markets are still pretty hot with the shitcoin gamblers. The bottom might be the time when the masses finally give up on cryptocurrency "investing", because right now there's still A LOT of moonboys.
^Just my guess though. No fundamental backing whatsoever.
But my gut says that bitcoin does have a good amount of room to drop as well, as the cryptocurrency markets are still pretty hot with the shitcoin gamblers. The bottom might be the time when the masses finally give up on cryptocurrency "investing", because right now there's still A LOT of moonboys.
^Just my guess though. No fundamental backing whatsoever.
July 18, 2021, 09:44:48 PM
It's not exactly like how banks are manipulating gold/silver. But in terms of possibility, I guess it is possible. If they are really bent on doing it, it's just a matter of how much. While Bitcoin is publicly traded 24 hours globally, it only has less than $20 billion in 24-hour volume. If the banks are willing to shell out billions just to play with Bitcoin's price, they could do it. But it doesn't mean the little guys are always at the disadvantageous position. They could simply ride the wave.
July 18, 2021, 08:12:23 PM
There have been a lot of accusations with crypto exchanges and it does seem that it's likely for them to be able to do like silver and gold smiths did and start inflating the supply of coins. The ideas of holding your own keys only works really if you're good with security/technology, if you're not good with either of those then you'll probably have a hard time and might lose more than leaving funds on an exchange...
The banks took on what the smiths were doing but who knows if it's possible for crypto exchanges or banks to carry out what has been done in the past with gold and silver.
The banks took on what the smiths were doing but who knows if it's possible for crypto exchanges or banks to carry out what has been done in the past with gold and silver.
July 18, 2021, 06:16:31 PM
Will (and can) Bitcoin be artificially lowered by banks just like did with gold/silver?
Seems like bitcoin is on the edge of a cliff at the moment.
The little guys (0-1BTC) and currently stacking hard right now while the whales (100+) are neutral or slightly selling.
Meanwhile price is still going slightly down.
From a whales perspective, it doesn't make sense to jump in to drive the price up from here. Because the little guys are already stacking harder than they have ever.
Will the little guys end up holding the bags (like they always end up doing)?
Seems like bitcoin is on the edge of a cliff at the moment.
The little guys (0-1BTC) and currently stacking hard right now while the whales (100+) are neutral or slightly selling.
Meanwhile price is still going slightly down.
From a whales perspective, it doesn't make sense to jump in to drive the price up from here. Because the little guys are already stacking harder than they have ever.
Will the little guys end up holding the bags (like they always end up doing)?
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