Community post
Bitcoin and Cryptocurrency Manipulation
I have heard this before, and it seems even more relevant now. Because cryptocurrency can be stored in anonymous wallets, it is possible that whale purchasers are manipulating the entire Bitcoin market on a daily basis.
If someone owns and operates hundreds or thousands of anonymous cryptocurrency wallets and uses them to buy and sell small quantities to create the illusion of momentum in one or the other direction, it would cause others to follow in the wake and fall victim to the manipulation.
It's essentially impossible to determine if this is actually happening on a small or large scale though..
What are your thoughts?
Replies (3)
I do store my various coin offline not to have hack issue or network problems
That is right. No strict regulation here. All things that are taboo in wall street market can be done here. I am very eager to see the development of these coins years to come. This market is as wild as it can be, with so many people from newbies to wall street veterans are jumping in. I think speculators can only play short term though. In the long run they are powerless. Long term investment is much saver because the market will gain value over time.
I agree, but before the market grows in value over time, I think it needs to correct for the incredible pump that all of crypto received over the past few months. If there is manipulation going on, I think the block of time where it could be profitable is coming to an end. As more people come into the space it will trade more steadily hopefully..