Why Bitcoin's Price Continues to Face Manipulation

Why Bitcoin's Price Continues to Face Manipulation

My letter on Bitcoin ETF: https://medium.com/@nicholasmerten/an-open-letter-to-the-sec-the-case-for-a-bitcoin-etf-e3a308b12fa

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Bernie Guzman says:

I was attracted to bitcoin for a number of reasons; blockchain technology reminded me of my heady days as an operating systems programmer, bitcoins decentralized, censorship resistant nature appealed to my libertarian instincts, and, finally, I loudly cheered bitcoins potential to empower the billions on our planet who have no access to banks, no way to raise capital.
But as I learn about the various ways that โ€˜whalesโ€™, for example, manipulate the price and volume of bitcoin transactions, and as I see exchanges adopt many of the methods used by the NASDAQ and other traditional financial institutions, such as automated trading โ€” all of this leads me to feel that the cryptocurrency space is being corrupted by greed and the desire for power.
Years ago when I read โ€˜Flash Boysโ€™ by Michel Lewis, about automated financial transactions which yield profits that have no relationship whatsoever to the value of the underlying investments, at that time I hoped and assumed that the cryptosphere would be different, that weโ€™d not be โ€˜riggedโ€™, that bitcoin was truely peer-to-peer, money by and for the common man.
Weโ€™re no different. No different.

Ken Cress says:

All markets are manipulated. Crypto included.

The Ever Farting Elephant says:

What am I doing right now? Simply trading, I like to make 5% on my portfolio everyday…but shoot for 2%. Sometimes I make much more but after 2%, I'm happy. Started at $990 on January 1st. I don't short anything or use leverage. Simply buy bottomed stochastics, oversold RSI, and healthy MacD as long as blue isn't pulling away from orange to much. I play a few swings with Bitcoin. I put very small amounts of capital ($50 or $100) into a list of 800 projects. Going through them looking for great prices. Only for fun, I'm happy to lose it all although that isn't likely. Hoping to hit 1 big one like Verge did in 2017. If you make 2% everyday on your portfolio, you'll be rich beyond your wildest dreams for the rest of your life. Having a blast doing it.

Major REX says:

But isn't that a chicken and a egg problem. If government wants to solve this we need the big investors that use the asset instead of shitty paper btc.

Silvinio says:

Co masz na brwiach

Gez Monder says:

What I don't see, Nicholas, is why or how this would ever end. Why wouldn't these guys just keep laying down these trades perpetually if they can continue to make money in this way…?

Vincent Choy says:

Manipulation is for sure. The key point is why they do it. Bitmex is a big hint. They get a lot of BTC (not USD) if they short BTC as low as possible. Also, it is the reason why BTC will rise in future too….

Chronic Crypto says:

I use to think there was price manipulation but when there's a hundred million traders plus trading using the same trend lines and chart data I no longer believe this. We all knew btc would go up to around 4200 to test resistance and once it stalled and didn't break through we all sold off. It's very simple.

Dwayne Graves says:

Those 3 quotes from Andreas sums up what is wrong with America right now we need to do this with folks we disagree with things we have in common and quit fighting

Kruptos Denarius says:

Do you like Substratum?

Grant Smith says:

I would love to hear your response to chicko criptos video about how we are in the denial stage and may start to rise in both volume and price very soon.

Kathryn J. Hernandez says:

Not "whale" activity and not a real market. This is manipulation (both up and down) via the fractional reserves/derivatives pricing scheme. Look no further than Vincent Viola of Virtu Financial. Pulls all the strings on our tiny cryptos–don't believe me? All you have to do is look at the volumes. When the Central Banks go down, I think we will see the end of the derivatives schemes to finally have fair markets.

Arthur Mcgonnell says:

natural selection breeds in fighting …its healthy…tribal politics for the crypto savages..better people confront each other &say their piece ..all expression is nature ..&just remember its a ride.Namaste 1&alll! X

nimo hobbs says:

Buy high sell low, and get it over and done with already..

Alan Yujiro says:

Thank you for the info, appreciate it,

K Cep says:

I have been saying this for years…..Bitcoin is not as decentralized as many people think……..If bitcoin can be manipulated then it is not "Truly" decentralized……….Bitcoin right now is no better then fiat currency……..With fiat you have government manipulation…..with bitcoin, you have whales manipulating the price…….And to be honest, it's not hard to see where the manipulation is coming from…..You only need to look at Arthur Hayes and bitmex……I'll leave it at that…..

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