Manipulation has been one of the major concerns that are associated with the crypto market since its inception. Experts suggest that it is one of the reasons why people hold back from trusting this market. But is it present on a significance scale in this arena? Anthony Pompliano, the founder and partner at Morgan Creek Digital Assets, seems to think so.
Talking to BlockPublisher, Anthony stated:
Manipulation is absolutely occurring and needs to stop.
The reputation of the crypto market is largely marred among the general public and investors owing to this problem. Price manipulation is a factor that makes the general public question the credibility of this market. Allegedly, the big whales present in the market pivot the prices in their favor thereby destroying the reputation of the market. It is also one of the reasons why a crypto-linked exchange-traded fund (ETF) has not been approved by the United States Securities and Exchange Commission (SEC). The major concerns that the SEC has raised include valuation, liquidity, arbitrage, custody and manipulation.
Regarding the solution of this issue, it is suggested by many experts of the game that the SEC should join hands with other regulatory forces to overcome this problem. Some also suggest that given some time to grow and mature, the market will stable out.
Adding on to his statement, Anthony stated:
The issue is complex, which will require coordination among multiple regulators to create a sustainable solution.
Similar suggestion is also made previously by the board member of 9 Spokes, Thomas Power. Talking to BlockPublisher, Thomas stated:
SEC and global institutions unite to fight market manipulators who [are] harming BC/Crypto brand and preventing market liftoff.
In order for this market to grow and gain mainstream attraction, pivoting the market direction for personal gains needs to be eliminated as soon as possible. More and more scrutiny and restrictions are still needed in order to make this market more secure.
On the other end, regarding the issue of manipulation, crypto analyst Eric Thies also suggested that emerging markets go through such phases of problems in the beginning. It is a kind of an issue that can be solved if given enough time. Just like any other technological advancement, this market still needs space and time to mature.