How hacks can effect bitcoin price

[hani20980]

Do you think bitcoin hacks can effect bitcoin price ? many times we heard about hacks and many bitcoins stolen but
we didn't really seen a real fall in bitcoin price

 

[Vladv26]

Depends on how big the hack is, if they steal a huge amount of millions of dollars surely this is going to affect the price but if they steal a couple bitcoins no one will notice

 

[Braga13]

A while ago, the Binance platform was hacked ... many of the platform's currencies were affected ... but Bitcoin was not affected at all

 

[Niftyyem]

Depends on how big the hack is, if they steal a huge amount of millions of dollars surely this is going to affect the price but if they steal a couple bitcoins no one will notice

I agree. Large amounts of bitcoin will cause an impact but the small amounts may not even be noticed.

 

[Ralphjoe]

The only way through which hacking can affect the Bitcoins price is when someone's bitcoin wallet is hacked and that wallet investment is sold off immediately meaning that the price of Bitcoin will reduce as there will be more supply of the cryptocurrency in the market.

 

[Patrik]

It can surely affect it, when there are lot of hacking in terms of bitcoin, people will lose their trust on it and will consider it as an unsafe way to store their money

 

[Kunkun]

The magnitude of the hack definitely would matter too, although a hack would have an effect too because it would be a malfunction and that could have an effect

 

[Chibson]

I think there are some big whales manipulating the prices of cryptocurrency, especially Bitcoin, because when the price of Bitcoin is being manipulated it will definitely affect others.

 

[Nomad]

I am not sure whether hacking will result in price surge or dip for cryptocurrency. I have noticed price going high when whales put a lot of money in the currencies. The price also tend to go high everytime when favorable news float in the market.

 

[jeff87]

Do you think bitcoin hacks can effect bitcoin price ? many times we heard about hacks and many bitcoins stolen but
we didn't really seen a real fall in bitcoin price

I don't think the hack of Bitcoin can affect the price in cryptocurrency market. If it is still in Bitcoin after the hacking, it's just transferred hands or possession. But if a whale in cryptocurrency is hacked and convert it to dollars I believe it will have a big impact.

 

[Kelly5]

I don't see how a hacked Bitcoin wallet will affect the price of Bitcoin at all. One wallet or a few wallet Bitcoin is stolen so? How does that translate to affecting the Bitcoin price in general

 

[Setho]

If people are seeing an increased tendency for wallets to be hacked then they are definitely not going to be buying bitcoin again which will make the price come down.

 

[Josephjossy]

I don't think it have anything to do with Bitcoin. Bitcoin is a cryptocurrency on its own so it have nothing to do with other businesses. You need to careful not to give your password away to people by any means. Also use strong password that will be hard to guess

 

[Senator]

Hacks can't affect the price of the Bitcoin. The price of the Bitcoin will still remain as it is regardless of the fact that people's wallets are being hacked and their Bitcoin stolen away

 

[Alexandoy]

My take on hacking is the popularity of crypto currency that hackers are attracted. When hacking becomes prevalent like the viruses in the earlier times of the internet then most likely the market prices will all be affected. And perhaps the investors will cease to buy.

 

[Suba]

If the hacked is a well-known platform exchange or wallet like Binance or Coinbase, of course there will be a reduction in Bitcoin transactions and the price will drop even though this is only temporary, and then it will return to norma

 

[Shigobad2020]

Do you think bitcoin hacks can effect bitcoin price ? many times we heard about hacks and many bitcoins stolen but
we didn't really seen a real fall in bitcoin price

It always depend on the type of hacking , if the hack is too huge and it took over sixty percent of bitcoin , it will definetely the price of bitcoin and bitcoin might fall drastically.

 

[Nurudeen]

Hacking can't affect the price of crypto currency exchange Business. The hackers are hacking crypto currency exchange platform not the coin itself so I don't think it can affect the coin at all

 

[mcjerry]

Do you think bitcoin hacks can effect bitcoin price ? many times we heard about hacks and many bitcoins stolen but
we didn't really seen a real fall in bitcoin price

I think it might affect the price positively because when huge amount of bitcoin is been hacked and store in another wallet. The bitcoin will stop in circulation and this will bring slight rise in the price

 

[Yusuf]

I really don't think Bitcoin hacks can actually affect the price of the crypto currency in the market. To be honest it's not the coin they are hacking but the security system of crypto currency exchange platform to steals customers coin