There was some one on bitcoin-otc who mentioned he "the man that got this rally going from $0.7 cents by pumping $22,000 into the market in 5 days."
Is it possible this amount could move things so much? He then sold some at a loss and re-bought to keep the rally going.. is this possible?
"Gentleman, I am the man that got this rally going from $0.7 cents by pumping $22,000 into the market in 5 days.
I even sold up to 10,000 btc at a loss so I could get the cash to keep the rally going or cool it off if needed.
today, the game go much bigger than me
I am now along for the ride
>>>> if what you say is true about driving this rally, did it feel like there were other large buyers lifting the market along with you, or was this all you?
no this is not all me, look at the volumes
...
I was fool enough to try to slow down the market this morning
dump a lot of coins
but then relized too much money was there and had to get out of the way"
I cannot be sure if this is indeed a true event. But I think it was a little bit possible in the past. When Bitcoin was only worth some cents, Bitcoin was only owned by a few people. There were also very few exchanges and outlets to buy and sell Bitcoin at that time. So I guess a certain man who has several thousands in Bitcoin could really cause the market to pump or dump. But now is a world different from that time. Right now, the marketcap of Bitcoin is in billions of dollars. No one has the capacity to risk that huge amount of money just to manipulate its price. Aside from that, Bitcoin is much widely circulated as compare before.