Play over 1000+ slots! SPIN NOW! WIN CASH!
Investing in medical cannabis. It’s profitable!
Blue
Red
Green
Orange
Voilet
Slate
Dark
  Guest viewing is limited

❕NEWS Bitcoin's 2017 All Time High Price was Fake

microunit

Emerald Member
LV
1
 
Joined
Nov 27, 2019
Messages
4,364
Reaction score
213
Points
150
Awards
5
BMF Points
279
Rating - 0%
0   0   0
Bitcoin's all time high last December 2017 which was $20,000 was fake and was just cause by price manipulation says crypto analyst, the analyst says he reference it from a former charges against famous Mt.Gox CEO Mark Karpeles. The analyst said that data tampering was the caused. Analyst also followed up with a prediction that bitcoin price will rise to $1 million in 2027, this is when he thoroughly analyze the data and did the math with the increasing number of users and claiming that it is possible with the given figures
 

Emoney

Sapphire Member
LV
0
 
Joined
Sep 16, 2018
Messages
5,309
Reaction score
219
Points
150
Awards
3
BMF Points
704
Rating - 100%
2   0   0
Well, fake or not, the spike did propels bitcoin to a new height and make more people adopt it, and also make several people flash new millionaires.
 

microunit

Emerald Member
LV
1
 
Joined
Nov 27, 2019
Messages
4,364
Reaction score
213
Points
150
Awards
5
BMF Points
279
Rating - 0%
0   0   0
Well, fake or not, the spike did propels bitcoin to a new height and make more people adopt it, and also make several people flash new millionaires.
Well i could agree to that . The spike did made bitcoin be known to more people, and now bitcoin's userbase keeps on increasing as most investors are still awaiting yet again for that "spike"
 

KarthikP

Sapphire Member
LV
1
 
Joined
Jul 29, 2019
Messages
8,454
Reaction score
700
Points
200
Awards
7
Location
India
BMF Points
0
Rating - 100%
10   0   1
Yeah this is true . The increase in price was felt only for some days or hours, then it suddenly dropped after that spike. This in turn created a lot of crypto investors .
 

microunit

Emerald Member
LV
1
 
Joined
Nov 27, 2019
Messages
4,364
Reaction score
213
Points
150
Awards
5
BMF Points
279
Rating - 0%
0   0   0
Yeah this is true . The increase in price was felt only for some days or hours, then it suddenly dropped after that spike. This in turn created a lot of crypto investors .
yeah, the price spike was only for a moment, and attracted lots of investors that invested at the same time in bitcoin, but it quickly plumetted down also, disappointing alot of bitcoin investors hence bitcoin gaining lots of negative reviews at that time
 

Ewogboka

Emerald Member
LV
0
 
Joined
May 28, 2020
Messages
2,649
Reaction score
27
Points
135
Awards
1
BMF Points
17
Rating - 100%
1   0   0
People will surely have different opinions about the 2017 price hike but I don't belief it was due to data tampering, blockchain can't be edited , or does it mean the data will still be tampered for the 2027 price hike as predicted?.
 

UserU

Gold Member
LV
0
 
Joined
Apr 14, 2020
Messages
349
Reaction score
42
Points
35
Website
moneysmsapp.net
BMF Points
1,536
Rating - 0%
0   0   0
People will surely have different opinions about the 2017 price hike but I don't belief it was due to data tampering, blockchain can't be edited , or does it mean the data will still be tampered for the 2027 price hike as predicted?.

Nah, it's just that the trend was new in 2017 so naturally people just went with the flow. Those that became super rich or just wanted to realize their profits quickly sold and that's how the crash happened.
 

Emoney

Sapphire Member
LV
0
 
Joined
Sep 16, 2018
Messages
5,309
Reaction score
219
Points
150
Awards
3
BMF Points
704
Rating - 100%
2   0   0

Ewogboka

Emerald Member
LV
0
 
Joined
May 28, 2020
Messages
2,649
Reaction score
27
Points
135
Awards
1
BMF Points
17
Rating - 100%
1   0   0
Nah, it's just that the trend was new in 2017 so naturally people just went with the flow. Those that became super rich or just wanted to realize their profits quickly sold and that's how the crash happened.
I agree with you that excessive supply of bitcoin due to the price hike in the year 2017 crashed the price and afterwards the interest was reduced making it difficult for bitcoin rise back .
 

De-rector

Ruby Member
LV
0
 
Joined
Jan 21, 2018
Messages
13,090
Reaction score
209
Points
150
Awards
1
Age
31
Location
Nigeria
BMF Points
2,905
Rating - 100%
1   0   0
This could truly be the reason for the crash because if I could recall very well the price crashed arround December which was a festival period and lots of people wanted to sell off the coin since they made huge profit earlier so as to have more money to spend for the Xmas and New year.
 

Coolvibez

Silver Member
LV
0
 
Joined
Jun 6, 2020
Messages
241
Reaction score
0
Points
0
BMF Points
695
Rating - 0%
0   0   0
$1 million in 2027!! 😓 I think the price is a bit too high for the outcome. The increasing demand of bitcoin can increase the price not only the increase in price. As bitcoin changes with the demand and supply in market.
 

De-rector

Ruby Member
LV
0
 
Joined
Jan 21, 2018
Messages
13,090
Reaction score
209
Points
150
Awards
1
Age
31
Location
Nigeria
BMF Points
2,905
Rating - 100%
1   0   0
$1 million in 2027!! 😓 I think the price is a bit too high for the outcome. The increasing demand of bitcoin can increase the price not only the increase in price. As bitcoin changes with the demand and supply in market.
I am of the opinion that if the price could increase to as high as $1 million in the next 7 years very likely it may collapse because it may not be affordable to most of the subscribers.
 

Coolvibez

Silver Member
LV
0
 
Joined
Jun 6, 2020
Messages
241
Reaction score
0
Points
0
BMF Points
695
Rating - 0%
0   0   0
I am of the opinion that if the price could increase to as high as $1 million in the next 7 years very likely it may collapse because it may not be affordable to most of the subscribers.
Most of the subscribers can pay for any amount of bitcoin they want, when the price reaches $20000 the people who bought it at a lower amount would want to sell it and make profit and also anticipating decrease by the users not investing will make it fall.
 

De-rector

Ruby Member
LV
0
 
Joined
Jan 21, 2018
Messages
13,090
Reaction score
209
Points
150
Awards
1
Age
31
Location
Nigeria
BMF Points
2,905
Rating - 100%
1   0   0
Most of the subscribers can pay for any amount of bitcoin they want, when the price reaches $20000 the people who bought it at a lower amount would want to sell it and make profit and also anticipating decrease by the users not investing will make it fall.
Sure that is just it because there might be fear that at $20000 it could fall back rapidly just like 2017 so the $20,000 mark of bitcoin may not last long before it crash except it jump to $21000 as soon as it hit $20k.
 

microunit

Emerald Member
LV
1
 
Joined
Nov 27, 2019
Messages
4,364
Reaction score
213
Points
150
Awards
5
BMF Points
279
Rating - 0%
0   0   0
Lolz, fake? We are waiting for this kind of thing to happen again, many benefited from it, i was not part of the lucky ones then.
I doubt many benefited from it as the unexpected rise duration wasn't even that long, and as said in the thread that it is faked , it might be also gotten manipulated by whales or big companies that hold large sums of bitcoin or money
 

Coolvibez

Silver Member
LV
0
 
Joined
Jun 6, 2020
Messages
241
Reaction score
0
Points
0
BMF Points
695
Rating - 0%
0   0   0
I doubt many benefited from it as the unexpected rise duration wasn't even that long, and as said in the thread that it is faked , it might be also gotten manipulated by whales or big companies that hold large sums of bitcoin or money
I think bitcoin cannot be manipulated by whales because its not controlled by anyone,maybe the price was manipulated by large btc holders so they could sell off their btc at a larger amount of cash , because the price of bitcoin is only controlled by the rate of demand and supply.
 

microunit

Emerald Member
LV
1
 
Joined
Nov 27, 2019
Messages
4,364
Reaction score
213
Points
150
Awards
5
BMF Points
279
Rating - 0%
0   0   0
I think bitcoin cannot be manipulated by whales because its not controlled by anyone,maybe the price was manipulated by large btc holders so they could sell off their btc at a larger amount of cash , because the price of bitcoin is only controlled by the rate of demand and supply.
It can be actually, especially when you have large sums of it, what do you think will happen if you sell tons of bitcoin in a short time? the price will plumet at that rate because there is a surge of supply in the market, likewise in buying, it can be controlled by anyone to an extent provided they have ample resources, this is same for all business with supply and demand
 

Coolvibez

Silver Member
LV
0
 
Joined
Jun 6, 2020
Messages
241
Reaction score
0
Points
0
BMF Points
695
Rating - 0%
0   0   0
It can be actually, especially when you have large sums of it, what do you think will happen if you sell tons of bitcoin in a short time? the price will plumet at that rate because there is a surge of supply in the market, likewise in buying, it can be controlled by anyone to an extent provided they have ample resources, this is same for all business with supply and demand
I think it would be very difficult for someone to easily control the price,the person needs to have millions of btc in stock to be able to do so , because as am typing now millions of people are purchasing or investing in btc .That's why its going to be very difficult for someone to easily control the price
 

microunit

Emerald Member
LV
1
 
Joined
Nov 27, 2019
Messages
4,364
Reaction score
213
Points
150
Awards
5
BMF Points
279
Rating - 0%
0   0   0
I think it would be very difficult for someone to easily control the price,the person needs to have millions of btc in stock to be able to do so , because as am typing now millions of people are purchasing or investing in btc .That's why its going to be very difficult for someone to easily control the price
it would be difficult to us normal people, though it is easy for those rich ones, they can even band up and coordinate a sell or buy move on a specific time to pump btc price or make it plumet to their accordance
 

Emoney

Sapphire Member
LV
0
 
Joined
Sep 16, 2018
Messages
5,309
Reaction score
219
Points
150
Awards
3
BMF Points
704
Rating - 100%
2   0   0
it would be difficult to us normal people, though it is easy for those rich ones, they can even band up and coordinate a sell or buy move on a specific time to pump btc price or make it plumet to their accordance

Well, while it's true that common folks have little power to control or manipulate bitcoinm price, we can still try like coordinating with a lot of facebook users to buy or sell a small amount of btc at a predetermined time.
 
Similar threads
Thread starter Title Forum Replies Date
aryan4 ❕NEWS Pantera CEO: Bitcoin won't stop like it did in 2017 Bitcoin Forum 37
Crystal ❓ASK Bitcoin blockchain split on 1 August 2017 Bitcoin Forum 61
K ❓ASK Where can i buy bitcoin small quantity with low fees? Crypto Currencies 0
C ❓ASK What happens when Bitcoin ban in half countries? Bitcoin Forum 4
CrazySher ❕NEWS Bitcoin price up $3000 in 3 hours, may touch $4,00,000 this year Bitcoin Forum 4
aryan4 ❕NEWS ECB Member: Bitcoin does not have the basic features of money Bitcoin Forum 13
microunit ❕NEWS Veteran Trader: Ethereum can soar as high as 10k$ in this year 2021 and overtake Bitcoin Bitcoin Forum 3
aryan4 ❕NEWS Hester Peirce: Governments Try To Ban Bitcoin-It's Stupid Bitcoin Forum 5
Tanvin Hasan ☑️NEW bitcoin-gain.com Reviews: SCAM or LEGIT? HYIPs Forum 0
aryan4 ❕NEWS Bitcoin miners reduce BTC sales Bitcoin Forum 0
aryan4 ❕NEWS Bloomberg report: $ 80k for Bitcoin Bitcoin Forum 6
aryan4 ❕NEWS US intelligence agencies: dollar and euro under threat from Bitcoin Bitcoin Forum 20
Josemendez ❕NEWS 476 million USDT deposited in one hour to grab Bitcoin dip Crypto Currencies 6
Josemendez ❕NEWS 300 Bitcoin ATM to be launched in Florida Bitcoin Forum 4
highspeed ❓ASK 1 Bitcoin for 1Million$, within end of 2021? Well, I do not believe... Bitcoin Forum 42
GetDoge ☑️NEW Get-bitcoin.net Review: SCAM or LEGIT? Faucets Reviews 1
aryan4 ❕NEWS This domain is on sale: Bitcoin.com Bitcoin Forum 5
solacejoy ❕NEWS Bitcoin in a hot debate Bitcoin Forum 0
aryan4 ❕NEWS Sacramento Kings to Pay Their Players with Bitcoin (BTC) Bitcoin Forum 3
H Sell [v1.0] CryptoWall - Bitcoin Offerwall Script Buy / Sell / Trade 0
sh199 ❓ASK You can now buy a Tesla by Bitcoin - Elon Musk Bitcoin Forum 17
aryan4 ❕NEWS Bitcoin price approaches $ 67k in South Korea Bitcoin Forum 37
microunit ☑️NEW Cryptowin - Earn Real Bitcoin Free App Reviews: SCAM or LEGIT? Rewarding Apps 0
Conorj ☑️NEW Bitcoin-cloudminers.com Reviews : SCAM or LEGIT? HYIPs Forum 0
aryan4 ❕NEWS Starbucks Will Accept Bitcoin (BTC) Payments Through Bakkt Bitcoin Forum 6
Korandana ❓ASK How to earn $50 dollars in bitcoin within a week without investment Newbie Helpdesk 5
AudraMiller ❕NEWS JPMorgan sees a bright future for bitcoin Crypto Currencies 5
AudraMiller ❕NEWS La La Anthony says Bitcoin could reach $200k Crypto Currencies 8
aryan4 ❕NEWS Kraken CEO: End of the year could be a Bitcoin, a Lamborghini Bitcoin Forum 29
Hyip Sites ☑️NEW Invest-bitcoin.site Reviews: Scam or Legit? HYIPs Forum 0
Conorj ☑️NEW triple-bitcoin.ml Reviews : SCAM or LEGIT? HYIPs Forum 2
aryan4 ❕NEWS CoinCorner CEO: Bitcoin could be $ 83K in April Bitcoin Forum 26
Josemendez ❕NEWS airBaltic accepts dogecoin , Bitcoin cash and ethereum for flight ticket Crypto Currencies 26
Leth96 ☑️NEW Free £30 in Bitcoin (Must buy £100 in Bitcoin) - Luno Airdrops Forum 0
Conorj ☑️NEW bitcoin-champion.com Reviews : SCAM or LEGIT? HYIPs Forum 0
Tanvin Hasan ☑️NEW bitcoin-broker.ltd Reviews: SCAM or LEGIT? HYIPs Forum 0
Conorj ☑️NEW bitcoin-mining-pro.online Reviews : SCAM or LEGIT? HYIPs Forum 0
aryan4 ❕NEWS Billionaire who wants Bitcoin banned buys Bitcoin Bitcoin Forum 17
De-rector ❕NEWS Oakland A's President declared support for bitcoin. Crypto Currencies 7
De-rector ❕NEWS New Zealand wealth management invest 5% of it Assets in Bitcoin Crypto Currencies 11
De-rector ❕NEWS A social media Influential defraud his followers of bitcoin worth millions of dollars. Crypto Currencies 13
De-rector ❕NEWS Cryptocurrency market surge by $86 billion as bitcoin reclaim $55,000 Mark. Crypto Currencies 18
aryan4 ❕NEWS The first clean-energy Bitcoin mining pool Bitcoin Forum 3
aryan4 ❕NEWS Fidelity's initiative to set up a Bitcoin investment fund Bitcoin Forum 3
aryan4 ❕NEWS Chinese company Meitu made its Bitcoin purchases on Coinbase Bitcoin Forum 31
aryan4 ❕NEWS Goldman Sachs to allow indirect investment in Bitcoin Bitcoin Forum 3
aryan4 ❕NEWS Soros fund manager: Bitcoin at the crossroads Bitcoin Forum 5
Y ☑️NEW Bitcoin pop - Earn Real Bitcoin App Reviews : SCAM or LEGIT? Rewarding Apps 2
Josemendez ❕NEWS Court Orders SEC to produce Bitcoin and Ethereum documents Crypto Currencies 15
Y ☑️NEW Bitcoin Solitaire - get Real free bitcoin app Reviews : SCAM or LEGIT? Rewarding Apps 0

Similar threads

REWARDS: Active Raffles


  • Roll 21: Win 100,000 BMF Points!

    The entry period for this raffle ends in..

Top Bottom

Earnings Disclaimer:  All the posts published herein are merely based on individual views, and they do not expressly or by implications represent those of BeerMoneyForum.com or its owner. It is hereby made clear that BeerMoneyForum.com does not endorse, support, adopt or vouch any views, programs and/or business opportunities posted herein. BeerMoneyForum.com also does not give and/or offer any investment advice to any members and/or it's readers. All members and readers are advised to independently consult their own consultants, lawyers and/or families before making any investment and/or business decisions. This forum is merely a place for general discussions. It is hereby agreed by all members and/or readers that BeerMoneyForum.com is in no way responsible and/or liable for any damages and/or losses suffered by anyone of you.