if you're a beginner you might've noticed that every coin follows the behavior of $BTC to certain a degree, even strong coins like $XRP or $ADA follow similar patterns. when bitcoin goes up, altcoins go up, when it goes down, they plunge.
this is not *direct* manipulation by whales or institutions, but the effect of a couple of things like bitcoin dominance, trading pairs, etc.
but the main cause of this might be the fact that the crypto market is dominated by bots! a big chunk of the overall volume and orders are executed by trading bots, this bots use Bitcoin inputs to determine sell and buy actions, triggering even more bots to act and amplifying the effect. this can flash-crash a coin, start a pump, or just drive the price.
because it is an artificial change in price driven by an army of bots and not the retail investors you could say the entire crypto market is manipulated indirectly.
so if you get your life savings liquidated unexpectedly, you can blame bitcoin and the trading bots, if that cope makes you feel better! then you can treat your gambling addiction 🙀
this is not *direct* manipulation by whales or institutions, but the effect of a couple of things like bitcoin dominance, trading pairs, etc.
but the main cause of this might be the fact that the crypto market is dominated by bots! a big chunk of the overall volume and orders are executed by trading bots, this bots use Bitcoin inputs to determine sell and buy actions, triggering even more bots to act and amplifying the effect. this can flash-crash a coin, start a pump, or just drive the price.
because it is an artificial change in price driven by an army of bots and not the retail investors you could say the entire crypto market is manipulated indirectly.
so if you get your life savings liquidated unexpectedly, you can blame bitcoin and the trading bots, if that cope makes you feel better! then you can treat your gambling addiction 🙀