You are viewing a single comment's thread from:
RE: Goldman Sachs To Open Bitcoin Trading Operation
What’s crazy is this I was telling people about this months ago. I happen to have caught wind of the 440k bitcoin purchase they made at $5600 a unit.
They literally have the power to control the market as they see fit. If you thought you seen manipulation before. Wait until you see what comes next.
As long as they manipulate it up, that is fine with me. :)
There is no point manipulating up. I’d they manipulate the price it will be in both directions!
They are going to manipulate both ways. They're used to taking out stop-losses left and right.
Also, if decentralized exchanges ever get enough volume, they'll be able to front run them a la "Flash Boys"
That won’t always be the case. Say then need to fill a order at a certain prices. They have the power to crash down and hold until they get what they want.
Could cause for more headache
They can't manipulate cryptos, one has to account for these investments and report them as per SEC guidelines. All they can do it invest in a crypto hedge fund that plays in crypto markets. Money moving in and out has to be accounted for at banks and evidence has to checked by auditors. No banks are investing in crypto so far, only futures, if at all. And after volcker rule, trading using proprietary capital is very difficult for banks.
Man o Man are you going to be in for one hell of a surprise very soon.
Ok, i will wait for the surprise and more conspiracy theory.
Ever thought that you have been conditioned to believe small groups and not think out Maude the box. Trust you will be surprised.
They can't manipulate precious metals either right?
They may be manipulating every single market that is relatively illiquid compared to stocks and rates. And they may have taken exposure to bitcoin, although i highly doubt it, but probably only via futures, not actual bitcoins. They have to justify exposure to bitcoin futures to shareholders and regulators. And they have to justify exposure to actual bitcoins. In the absence of regulation, goldman buying 440k bitcoin at 5600 is plain fart and therefore no case of any market manipulation through it. There are plenty of other institutions that can manipulate bitcoin market, not goldman as things stand currently. If the US regulators wont drag them to court or fine them, shareholders will sue them or european regulators will fine them. They are not buying any bitcoin without it being regulated. There is no way to account for that purchase. Its not a fixed asset, its not an intangible asset, it has to be on their balance sheet somewhere. Goldman is a regulated listed financial entity mate!
They can only meaningfully manipulate the futures market at the moment.
Have you seen how people react to it.
That's the market not manipulation. Listen to @karamyog 's last comment seconding my point.
The futures market is directly correlated to the btc market. If you crash the futures you can then short btc until the prices equal out. And if you buy a whole bunch of futures you'll pump the btc market.
But they are not correlated. The futures market would have to be many magnitudes larger if one wanted to shock the btc market but even then this would not be direct manipulation. It would be the market opinion responding.