Everyone has to recognize that a small group of users on exchanges, representing a small percentage of circulating BTC, are basically choosing what bitcoin is worth while conducting wash trades.
What makes this better than the previous system?
This question intrigued me a lot? Would you mind offering your opinion on this?
This is an open market, and manipulation do take place in things like this. And it’s not just in the cryptocurrency market, manipulation also takes place in other types of investment Or marketplaces. Manipulation has to do with doing things that affect the supply and demand of a market.
So, this will in turn affect the price. We do know that there are some whales who are always trying to play the market, and they try to put things in their favor. But the difference in this market is that as time goes on, the market keeps on growing and there are lots of people who keep on investing in the market, and as the market grows, it becomes more difficult for anyone to manipulate it. So Bitcoin market is quite different.