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
I think what we see here is how people could be taken to other persons for several reasons. Trump is a figure of authority all over the world given that, he stands as the president of the world power, the US. It’s not hard to find people take to his world.
If he advices that people should Buy Bitcoin today, you would find a lot of persons rushing to buy and should he say otherwise, you would find people rushing to sell as well. That’s not actually manipulating the price but rather, creating a sentiment or manipulating the minds of people who doesn’t entirely rely on their own opinions or words for an investment advice.
These guys create the sentiments and we take it up from there.