Hello, community!
I would like to open a debate on pump & dump groups and their impact on the bitcoin market. I'll start off with questions, with my own opinion listed below, so we can get ti started: How do you guys see pump & dump groups in terms of impacts it had(has) on bitcoin? Do you think it is no big deal or it is actually harmful? How harmful it can be if your answer to the last question was latter?
In my opinion, pump & dump groups and the activity itself serves only the creator and close circle around him/her. So far, many people lost funds due to it and should be kept out of the industry. There are many other legitimate strategies around to be used instead of it (as to not spam with long text, few can be found here:
https://www.cryptocointrade.com/about-trading/crypto-trading-strategies/)
What are your opinions on this?
I think whales do not posses as much value as you may think in this current market. Yes they can make a difference on smaller markets with small coins on low volumes but if we are talking about bitcoin the daily volume is above 10 billion dollars most of the time, I don't know how much of it is for show and tell and how much of it is true but no one in their right mind would try to manipulate a 10 billion dollar market themselves. Which means its the business' that we need to worry about and not individual whales. Any small investment places like jp morgan can do could change bitcoin for a long term movement.