Post
Topic
Board Trading Discussion
Re: Cryptocurrency Market Manipulation Logic?
by
CoinFoxs
on 23/06/2021, 12:18:57 UTC
Greeting BT Users,

As I am involved in the crypto world for the past 3-5 years and closely watching BTC when its price was around $400 - $700. When the BTC first pumped in 2017/2018 than it creates chaos in the whole world and more and more users are attracted because of the profit they see, but when the price suddenly down and BTC dumped to $5000 from $20k then a lot of new as well as experience users lost their money and also trust from Cryptocurrency.

Recently BTC again pumped and the price reached $60k and was predicted to touch the target of $100k but again the BTC price dumped around $35k - $38k. From all this pump and dumped I did not yet UNDERSTAND that why and how this happens and the difference is huge. BTC is considered the king of the crypto world and it causes the price Pump and Dumped of all the coins. Also Crypto market is untrustable as any person having a status/huge bank balance can easily manipulate the market as Elon Musk did.

Any expert can explain the reason behind those huge pump and dumped of BTC?

The rule is simple even in stock market , there are a group of traders or investors who have very high amount invested in the market. They are playing with the prices by investing in a specific coin, when they start investing the price start increasing and other small traders start investing their amounts to get profit when the price reaches at the desire price of manipulator they start selling their coins at profit and due to the selling of many coins at once result in the price dump.