Re: Are there people/organizations that control the price of bitcoin
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
@Franky1 also has said something regarding how whales create a wall that will not be surpassed for a period of time thereby controlling the market price until they get a certain satisfaction probably stockpiling their accumulation within a cheap price before they will allow a free flow of the market. He literally gave an illustration of the different chart on how this particular market control works. Why this sort of market control is possible is because of how influential the Whales are, and can easily make the market go in a certain direction for a period of time.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
its not really about FOMO demand
there always have been many people for months now willing to pay well over $100k/btc
these are people such as those in the pacific islands who's mining costs are $400k and so any coin at market rate way below $400k is seen as discount
the reason why the price hung down below$100k recent months is not lack of demand. but instead "WHALE WALLS"* creating a resistant barrier of large market orders whereby the price could not pass such limits.
*walls: super large orders created, cancelled and created, never to be filled but instead to cause a resistance limit of price movement
simply having the whales remove their walls allowed the price to move freely up
..
the question you may now be asking is why would whales put in such wall size orders to prevent the free movement of trade prices.. the answer is the whales wanting to short the futures market and also buy cheap in a controlled price..
so to short the futures market they want to resist the public free market from freely rising and hurting them on their futures market
..
when they have their desired goal, they are then willing to let the free market open up a bit and rise
...
the question you may now be asking is, how do you recognise when these whales are doing this tactic, well:
when you see a stepping stone effect on the market history of stability then temp volatility, and then stability again
/\
| \/\/\/\/
/\/\/\/\/\/\/\/\/
its due to
controlled price within limits using walls
walls removed
walls set at new level
you can also look on many markets at their current orderbook of active orders to see the large wedge of orders sat at a certain distance from the spread. where you see the numbers cancel and re apply multiples times without getting filled.
this cancelling and re applying is so that if any minnows or sharks put their orders at those prices the whale drops out and reapplies order to go to the back of the list at a certain price so that the sharks and minnows get eaten first at a certain price point to ensure the whales orders are not filled first if the market was to jump by a competing whale wanting to raise the price
there always have been many people for months now willing to pay well over $100k/btc
these are people such as those in the pacific islands who's mining costs are $400k and so any coin at market rate way below $400k is seen as discount
the reason why the price hung down below$100k recent months is not lack of demand. but instead "WHALE WALLS"* creating a resistant barrier of large market orders whereby the price could not pass such limits.
*walls: super large orders created, cancelled and created, never to be filled but instead to cause a resistance limit of price movement
simply having the whales remove their walls allowed the price to move freely up
..
the question you may now be asking is why would whales put in such wall size orders to prevent the free movement of trade prices.. the answer is the whales wanting to short the futures market and also buy cheap in a controlled price..
so to short the futures market they want to resist the public free market from freely rising and hurting them on their futures market
..
when they have their desired goal, they are then willing to let the free market open up a bit and rise
...
the question you may now be asking is, how do you recognise when these whales are doing this tactic, well:
when you see a stepping stone effect on the market history of stability then temp volatility, and then stability again
/\
| \/\/\/\/
/\/\/\/\/\/\/\/\/
its due to
controlled price within limits using walls
walls removed
walls set at new level
you can also look on many markets at their current orderbook of active orders to see the large wedge of orders sat at a certain distance from the spread. where you see the numbers cancel and re apply multiples times without getting filled.
this cancelling and re applying is so that if any minnows or sharks put their orders at those prices the whale drops out and reapplies order to go to the back of the list at a certain price so that the sharks and minnows get eaten first at a certain price point to ensure the whales orders are not filled first if the market was to jump by a competing whale wanting to raise the price