Hey guys, I just wanted to share. I've observed and read many articles too regarding this topic and I would like to hear your opinion regarding this. Do you think that the cryptocurrency market is on a downward trend? Would altcoins be following this trend as well? Since Jan 2018, the market of crypto had been moving up and down way too much in a very short period of time. Do you think it is possible for an entity to manipulate the market so big?
Hello Gastonic, first of all, 2018 has been unfavorable to cryptocurrency, though we still has some months left. I think that some of the reasons why there are up and down movements, are basically due to the market demand and supply principles. Other factors includes; market speculation, media influence etc.
Main while, there are thought from some quarters that the cryoto whales( ie those that had very large quantities of a coin) might have influence in determining the market prices. I think this may also determine the market conditions, however, the market is mostly determined by the demand and supply rules in my opinion. Thank you