Crypto How to Manipulate Crypto Currency Price?

[Mika]

Yes, you read this right.

If people decide to pull Bitcoin down to $10K, they can do it just in a couple of weeks. If they decide to push it to $100K, they can do it in a couple of weeks.

The price of crypto currency is dependent on demand and supply. The price goes up when there is demand but not much supply, and the price goes down when there is no demand but a lot of supply. In other words, when people start buying crypto currencies and start investing a lot of money, the price will go high (because there is demand). However, when people start selling crypto assets, the price will go down (because there is a lot of supply).

Let say, you have billions of dollars, don’t you think you can easily create more demand or more supply?

 

[sincerem]

If that's possible, people like Elon musk could've own all the mined BTC in the market. Cos he could've taking advantage of what you meant, by investing all his life savings and later on, taking his investment out which will see the market fall drastically low and he gains from it. But it doesn't work out that way, everything follows due protocol when it comes to digital coins.

 

[OlaAdams]

I think i am in total support of what you are saying, thinking that the price of Bitcoin can be affected by altering the level of supply or demand of the coin only is a very good assumption. In the world of crypto currency there are whale; this are individual owning a very large amount of the coin e.g Elon Musk. A very good example was when he withdraw all of his money from bitcoin. This causes an increase in the supply level of the coin which result in the falling of the price.

 

[Sherman198]

You are probably right but who would want to risk his/her billions or millions in to a very risky crypto currencies market. I doubt that. People are still scared to really invest their huge capital in to crypto cos they still think that may crash one day. But there has been an improvement in the adoption over the last decade.

 

[minenovo]

That's true, the number of people who have started using cryptocurrencies has increased immensely lately.

 

[btaliat]

That's a brilliant idea but it is not the demand and supply factors that determine the price of bitcoin. In fact, the law of demand and supply only for bitcoin when it was first created. Then everybody was equal bit until some people dubbing themselves big whale enter the game of crypto.

 

[Alexandoy]

To be frank, I cannot comprehend the concept of the whales. When Elon Musk bought $1.5 billion worth of Bitcoin, who sold that to him? And when Musk would sell all his Bitcoin holdings then who would buy that from him? It is easy to think that you buy $100 worth or you sell $200 worth and you got a transaction completed. But who has a billion dollars to buy Elon Musk’s Bitcoin holdings?

 

[Jasmine]

To be frank, I cannot comprehend the concept of the whales. When Elon Musk bought $1.5 billion worth of Bitcoin, who sold that to him? And when Musk would sell all his Bitcoin holdings then who would buy that from him? It is easy to think that you buy $100 worth or you sell $200 worth and you got a transaction completed. But who has a billion dollars to buy Elon Musk’s Bitcoin holdings?

Bitcoin that Musk bought could have come from various sources, for instance from small investors, from big investors, directly from the minors. When Must invested $1.5 billion in Bitcoin the price did manage to go high. If he decides to sell he would sell directly to investors or to exchanges that would later sell to personal investors.

 

[Wisdom01]

The Bitcoin market is very large for one whales to just manipulate the market if you should manipulate it ,you might still even be the one to be in loss , the Bitcoin market is really volatile , there need to be couple of whales to make that manipulation and change I think