I’ve been thinking about this very question for sometime now, most especially after I came across a thread(can’t specifically remember which board I saw the thread, but I tried searching an didn’t find it) where the op talked about how some big whales use some sort of techniques to create barriers for bitcoin price allowing them to accumulate more until the price of bitcoin reaches their desired price, then they allow it move freely again, just with the case of it moving smoothly from 90k+ to 100k+.
Well, as much as I know that, the price of bitcoin is determined by supply and demand, I also had to see some reasons with that threads op as to the possibility of some people(whales) being able to manipulate these supply and demand and judging from how the price of bitcoin could easily be affected by a tweet from President Donald Trump, has given rise to some sort of curiosity in me to ask and know if truly that some group of people can actually determine the price of bitcoin by altering the demand and supply of the coin?
N/B:. We’re all here to learn and as such everyone is free to bring in their knowledge as I would be in the thread to learn because I’m really curious to know these.
Thanks
Before I believe that no once controls the price and demand of Bitcoin. But now on where the institutions are joining and frequently accumulating Bitcoin to save for long term just like Microstrategy and other more companies including some government entities. I guess they can manipulate the direction especially if they pull off their manipulative actions then say something about good or bad about Bitcoin.
We can also see the possible direction that might happen especially if there's news will came out. People always buying the news that's why there's possible movement that will happen. So hopefully people are vigilant and will not easily get panic on bad situations they read. Better choose to focus since for sure that even if they see a dump there's still better future or good pumps will happen on Bitcoin.