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
Based on my research, I think it is possible to pump and dump the BTC price by manipulation from Whales but I don't think those pumps and dumps will be very high, they might get little benefit by putting a lot of investment in the market which is very risky for them.
You know the market cap of BTC, to control that market cap you need money in billions and I can agree that if 10 to 20 whales make a team and puts billions of money into the BTC like let's say 10 to 20 billion, the market will mostly pump and if they withdrew that kind of money the market will pump.
So, basically it is possible, although we would have seen such a big investment coming or going out, there are many whale trackers, so they don't do it mostly, although they do it by manipulating the order book of the exchange.