Bitcoin whales have much influence on BTC price. For example every time someone moves Mt Gox's funds, we see huge cryptocurrency sell off and price drops. Bitcoin still need mass adoption for price stabilization and volatility mitigation.
we know that bitcoin prices depend on demand and supply. so for those who have large capital can move price according to their investment, and they can drop price when selling all its assets, so we as a small fish can only follow the whale's move in order to survive