Post
Topic
Board Bitcoin Discussion
Re: Do whales really control the market, or is that a myth
by
Xising
on 07/10/2018, 15:46:37 UTC
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?

Whales by definition are people who hold ridiculously large amounts of cryptos. They hold amounts big enough to control the market. For all we know, a single “whale” could have caused the crash in the market and reverse it the next month. As for average Joes like us, all we could do is hold and refrain from panic selling. Mysterious? yes, for they could always hide their identity. Evidence? no need for that, just logic and common sense.