Yes we can manipulate the price of bitcoin using demand and supply which I believe is the so reason for the recent bitcoin price booming as a result of high demand for btc around the world
yeah the key is in demand and supply if you have a very large capital, surely you can control the demand and supply on the market bitcoin, so you can manipulate the price of bitcoinBut i wondering if someone hold or buy bitcoin like half of the total of bitcoin supply
16,084,087 bitcoin total supply , let's say someone hold half of it 8 million bitcoin
And they are a pro trader , in theory they could really manipulate the price as they wish , but practically we don't know.
first of all that is only a conspiracy theory in my opinion and is not even possible to do that because to buy 8 million bitcoin you have to pay a tremendous amount of money during a very long time which means buying at various prices. and there are so much easier ways to earn profit than doing something like that!
besides if we assume it is right, then it means he will pump the price to 50,000 dollar easily and sell slowly to become a multi billionaire! and everybody wins
but you know i can just imagine with that situation , how the market will move
let's say all chinese bitcoin holder have more than 8 million bitcoin accumulated
then if they play together, isn't it possible to manipulate the price?