Quote from: wahyu wida on July 02, 2021, 12:57:48 PM

Quote from: Mauser on July 01, 2021, 06:46:55 PM

Quote from: Gcrypto786 on June 21, 2021, 06:49:39 AM

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?

I am not an expert, like you I have been involved with Bitcoins for a few years now and this my second pump and dump cycle I lived through. What I noticed with Bitcoins and other Alt coins is that the market is very cyclical. It seems a bit like the prices in the stock market, just more extreme. The volatility in crypto currencies is higher than in stocks, that is also why we can make profits of a few hundred percent, whereas with stocks we are happy if we make 10-20%. As for manipulation, I don't think that its true for most of the investors.

manipulation as I see it is only temporary, so we should be able to make good use of it. I think if we have a lot of capital and a lot of followers then we will be able to manipulate it or pump it. and it is very possible here to profit hundreds of percent in a short time is different from stocks, but we need to remember that the risk is also greater in cryptocurrencies

Even is it is only temporary it does not change the fact that it can have lasting effects on the market, the whales may exercise their manipulation for only a day and not only they can make the market to go down this is more than enough to keep it there for a long time, this in my opinion is exactly what we are seeing now as the whales are getting cheap coins and the only thing they need to do for the price to not go up is to buy those coins slowly, and this does not take into account all the people that lost all their money due to the extreme movement we saw in the market.