People believe that Bitcoin is a decentralized currency thanks to blockchain technology, so it cannot be manipulated. The truth is that the market is completely controlled by large investors.
This situation is similar to the Wall Street crash of 1929, when bankers manipulated the stock market through pool operations and wash trading. It was only after this crisis that stock markets and banks were regulated through the Glass-Steagall Act, imposing restrictions on banks. There is still no effective regulation in the cryptocurrency market, which is why bankers are making a lot of money.
Large traders use several tactics to manipulate Bitcoin. In wash trading, they create the illusion of buying and selling to artificially increase trading volume in order to attract small investors. Under pump and dump schemes, they suddenly inflate the price of previously accumulated Bitcoins through artificial buying, then cash out and let the price drop. Through spoofing, they place fake orders to give the market misleading signals.
Bitcoin: The real truth of this fraud Immediately after the financial storm of 2008, a mysterious person "Satoshi Nakamoto" published a document in January 2009. Its title was "Bitcoin: A Peer-to-Peer Electronic Cash System." It was not just a technical document but was written as a declaration of rebellion against central banks and failing institutions on Wall Street. The first block inscribed the headline from The Times newspaper forever, "Chancellor on brink of second bailout for banks." This was a satire against a system that saved itself at the expense of the public.
Bitcoin: The real truth of this fraud Immediately after the financial storm of 2008, a mysterious person "Satoshi Nakamoto" published a document in January 2009. Its title was "Bitcoin: A Peer-to-Peer Electronic Cash System." It was not just a technical document but was written as a declaration of rebellion against central banks and failing institutions on Wall Street. The first block inscribed the headline from The Times newspaper forever, "Chancellor on brink of second bailout for banks." This was a satire against a system that saved itself at the expense of the public.