Recently, we have seen lots of institutional fund to come in the market. Tesla have invested and possibly soon we will see rich people are using BTC as store of value. As the days go, we see the mcap is increasing. When it will increase more, what do you think, will the price manipulation be decreased? Or even effected? If we look at the Tesla announcement, it didn’t create huge changes. India may have a ban on crypto, that doesn’t effect the market. So, as we see the increase in mcap, will we see power of manipulation is decreasing?
As long as people can manipulate the market, they will keep on doing that, there is no reason for them to stop. All those tesla deals, grayscale deals, apple news that is yet to be confirmed, all the news you hear about this buying and that selling, everything reflects on the price and I think you will keep seeing that forever.
Do not underestimate the power of media manipulation as well, that is a real thing and people ignore that, when someone on TV comes up and says that bitcoin is a great technology and it will be adopted a lot, that influences price as well if that person is a very famous one, and same person saying it is too high now and bubble will burst, the price will be going down a lot and nobody knows if that person takes advantage of this or not.
Tesla bought bitcoin and Elon talked about how great bitcoin was, do you think that was just coincidence? He manipulated as well and made hundreds of millions of dollars in profit. As long as people can do that, they will do it.