Post
Topic
Board Speculation
Re: Is this theoretically possible?
by
hase0278
on 15/06/2017, 10:04:28 UTC
Say a group of rich investors got together and intending to buy huge amounts of bitcoin with the intention to one day crash the market. Say they told other investors of their plan deception and they bought into the idea. They done this for a while making the price of bitcoin soar. If they all collectively cashed in on their bitcoins and told people/ warned people and fooled them into doing the same via news articles, websites and other forms of mainstream exposure. Could they theoretically cause enough of a collapse to then buy the bitcoins back at a low price and wait for it to boom again makinf a huge profit or am I totally missing the point?
Theoretically it is very possible that a group of investors will get together to manipulate bitcoin price. Maybe they have done it before but the public does not know about it. They can also cause enough dump for them to rebuy cheaper to wait for price to boom again. A good example for this is the price movements before and after mt. Gox's fall because it is very possible that the owner of mt. Gox that time is involved in price manipulation of a group of whales.