Would we ever be able to see (know when) wealthy finance companies working together to buy and sell bitcoin (lower), deliberately throwing money away to lower the price? Add in the $ that's made from shorting the coins (btc & eth shorts have record highs), and they can minimize their losses. No regulation, collectively billions to throw towards the cause, makes for an easy way to manipulate the price downward.
They can easily do that, manipulate the price. But the we don't have such proof though, because the market is open for everyone. As you have said, no regulations and decentralizes system.
With no regulation (anyone can buy and sell any amount) and the majority of BTC trading volume being worthless (traders and bots running trying to buy and sell enough to make a few bucks), how much selling would it really take to continuously drop the price?
Almost all coins are not hitting rock bottom, so I say we are almost closed to the floor price. How much? Maybe if billions of dollars being wiped on in couple of days, it will be enough for most coins to die or close to dying specially altcoins.
There was a record breaking 10,000 BTC short placed earlier in the week, just before the recent selloff dropped the price. Who knew? The sellers
Taking into account the $ made on the shorting btc and eth, does anyone know what it would take to continuously drive down the price? IMO, I don't think as much $ as people are thinking?
Taking into account the $ made on the shorting btc and eth, does anyone know what it would take to continuously drive down the price? IMO, I don't think as much $ as people are thinking?
We don't know who the seller is, I read that perhaps that wallet belong to someone who is involved in Silk Road or Mt. Gox heist. We will never knew. As I have stated , billions of dollars of marketcap would be needed to drove the price down significantly.