Cornering and manipulation are a big worry for Crypto-currencies so how many players have large holdings
One of the biggest concerns for crypto-currencies is that there may be some large holders that can manipulate or corner the market. Bloomberg is out with an article shedding some light on the matter.
- About 40% of BTC is held by around 1000 people
- The top 100 people hold about 17% of BTC
- The top 100 in Ether hold around 40% of the market
- Many of the large players have known each other for years and are probably in constant contact
- They may be coordinating trades and information
- There’s no insider information rules because crypto’s aren’t subject to securitisation rules
- Some exchanges have warned digital users that they may be banned is they form groups with the intention to manipulate prices
The article is quite in depth and has plenty of quotes from analysts within the crypto world, so it’s well worth a read. What it does do is further emphasise my view that until crypto’s see some form of regulation, they remain a dangerous investment vehicle.
So far today there’s only been a 3000 3200 3300 3500 pip range in Bitcoin, and we’re now down some 5500 ticks since the 19k+highs yesterday.
Bitcoin daily
Just your average 25% swing then. I hope all the folks trading it are having fun 😉
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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Interesting about who’s who in the Bitcoin zoo.
Just a question about yesterday where your chart shows a spike from 16200 to 19000+
my chart doesn’t show that spike. Any clues
Hmm, I should have used that as the title, “Who’s who in the bitcoin Zoo”. I think I’ll steal it for another time 😉
It depends on what price feed your watching. There’s loads of them. The chart is using the coinbase feed. It’s well out of kilter with whoever one of my platforms is using, which currently has the price at 14510 vs conbase’s 15295. even that’s all screwed up.
Bloody good reason to stay 100 miles away from this tulip trade