Could one entity or a syndicate buy with fiat, a substantial no of bitcoins, and sell in unison thereby driving down the price and then re enter the market, buy more at the lower price, by so doing, over a period, take control, to some considerable degree the bitcoin market and the price?.
Crypto manipulation
8 years ago in #bitcoin by robertsinclair (39)
$0.00
Of course.
The Bitcoin market can only be manipulated by buying which can make the price go down, but on the subsequent purchase the price would tend to go up again with a net sum of zero. Unlike the equities market which can be manipulated with derivatives, short sells, etc. I placed an article in Steemit on Thursday about this exact scenario.
Volatility In The Bitcoin (and others) Market