I'm not talking about these supposed stablecoins like Tether, but normal coins. Let's say an agreement was made among all the major Bitcoin exchanges. Starting January 1, a Bitcoin is worth $5000 USD, plain and simple, and that's it. The price never goes higher or lower. A Bitcoin is $5000 today, tomorrow, next week, next month, etc. NOTHING changes it. Not a war, not the economy, not Trump getting re-elected (which he will, he's doing a great job), nothing.
I wonder if that could be done and what the effect would be.
One effect is that I wouldn't be buying BTC, because with no price volatility, how could I ever make a profit? But one good thing is that normal companies may be more inclined to use Bitcoin, since its price is now fixed and does not change.
Someone can manipulate btge price in a short period of time but they can't stop it's volatility. No one has the control of the system, it's all dependent on the people's demand. Theres no ways it could be like a normal currency, but seeing how it grows I can like it's not going to die but go even higher in the future. So better store a lot of them in a secure wallet like Hodler and expect better future for it.