Post
Topic
Board Bitcoin Discussion
Re: Bank of America: It takes $93 million to move Bitcoin's price by 1%.
by
masterzino
on 20/03/2021, 14:11:17 UTC

I found BofA for wrong.

$93mn definitely could bend the orderbooks on one or two exchanges. But Bitcoin is a too complex market with spot, margin, futures, etc. To 'move' the price, you will have to split those $93mn in all exchanges overall trading instruments, and then I'm sure that this will dilute the money into the mass without changing the price.

This is possible on smaller coins, traded on fewer exchanges.