I fear its possible now! bitcoin is already too diversified! Now it is nearly impossible for single seller or buyer to influence price of bitcoin in any way! It moves greatly owing to forces of market for example the demand and supply. Bigtime traders can, there is no limit with the supply. Imagine someone who hold 100 – 500 btc? He / she can immobilize the price much!
100 – 500 BTC is actually considered as a small amount if you realise that bitcoin now currently has Market cap about $19,696,817,064 and it’s not even 5%. I can’t argue that some people may affect bitcoin’s price by simply dumping but, he must have at least more than million dollars to do it, and the question is, whom of those riches want to waste that much of money for the sake of dumping bitcoin?
Market cap is inconsequential to your point (at least, short-term)
It is basically a product of multiplication of the current price by the number of bitcoins mined so far. The number of bitcoins grows insignificantly within just a few months, so it is the price that affects the market cap mostly. But high price is as equally applicable to the same number of bitcoins as low, i.e. 500 BTC will remain the same 500 BTC, no matter what the price might be. In reality, though, with higher prices the impact of selling or buying so many bitcoins will actually increase, which is contrary to your claim
Published at Thu, 09 Mar 2017 13:06:24 +0000
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