Is there any evidence that these mysterious 'whales' really control the bitcoin market, or is this a myth generated as people try to understand why bitcoin prices go up and down?
Bitcoin is a volatile crypto currency and thus is a kind of investment too so its va keeps on flactuation with the market and varies according to market demand and supply and thus there are many factors that controls the valuations of bitcoin like the higher the number of investors and higher the amount they are investing in bitcoin, higher will be the demand and in return higher will be the valuation and vice versa so whales are the investors who invest a huge amount in bitcoin so obviously whales will affect the valuation of bitcoin and in positive way if they are investing a huge amount in bitcoin.