Quote from: digitaltrader on July 12, 2017, 02:37:13 AM

We all know how Mt Gox manipulated bitcoin price by creating "Willy Bot". I'm wondering what stops others from doing the same? I mean anyone with enough resources can easily develop such bots and manipulate the market as per their need.

Right now bitcoin price is dropping and everyone thinks it's due to the fear of what might unfold on August 1. Is it not possible that some whales might be using this situation as a cover up to manipulate the market yet again?

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In fact, on some trading ways, Willy accounted for 30-50% of Mt Goxs entire trading volume. That is a significant amount, to say the least, indicating someone was carefully manipulating the bitcoin price in the process. No one will be surprised to learn there was some manual intervention by the person responsible for using the trading bot on the Mt. Gox exchange. Most people still believe Mark Karpeles is the person responsible for manually driving up the bitcoin price, although it is doubtful well ever know the truth.

https://themerkle.com/what-is-the-willy-bitcoin-trading-bot/

At that time, Mt Gox was the most popular bitcoin exchange, so manipulating the price through a single source was easy. Right now it is spread out. Newbies are the panic sellers, August 1 uncertainty, coins being moved offline, and then a price drop and the short-term investors start panicking and dumping. Yeah whales could easily manipulate an uncertainty to buy low and sell high. Sensible approach would be to just hold on to your bitcoins and let things settle down.