Post
Topic
Board Economics
Re: Is it possible for someone to manipulate the virtual currency market?
by
BeGoods
on 08/03/2018, 05:15:13 UTC
Someone or something?, very much possible. A new report from The New York Times this week suggests that Bitfinex, a virtual exchange, and its currency, Tether, have been helping to artificially prop up the value of bitcoin and other cryptocurrencies. A market analyst says that, "This absolutely reeks of price manipulation". Still, there’s almost certainly too much uncertainty at this point for the price to stabilize.
If someone has a power like dev that has a very large amount of coins probably about 50% of the total coins of course they could have manipulated the price of a coin in the market, because the key is just manipulating supply and demand. for bitcoin manipulation may be a bit difficult because total user is very large and many of the users are quite keen to distinguish where true news or speculation/hoax