That's really frustrating to see the CMC chart. The prices of top coins are dropping very cheaply, I was hoping for a massive pump as the first priority but crypto has some other thoughts. I think some big whales will be behind this downfall.
If it was not for the whales it is likely the price will be even lower, after all who do you think is buying all the coins of the investors that panicked and were selling their coins? The whales of course, so if anything we should be happy the whales believe in this market and buy so many coins, but whales despite their power cannot make the price of most coins to go up so until more investors decide to come back to the market we are stuck with a market which will not move much
Actually, it perfectly well works in reverse too
Or who do you think is driving prices down these days, sharks or small fish? Without whales we would be trading in a very narrow range at whatever price, though at higher prices, as I explained in
this topic, the market becomes a lot more volatile and basically anyone with a couple of bitcoins in their pockets can easily move the price in either direction (or start an avalanche of sell-offs). So any way you look at it, it is the whales who are responsible for any big price action, and as we are going downhill most of the time now, it is them at work as well