Bitcoin being unpredictable isn't anything new. It has been since it became a tradable asset. The thing that people should be looking for when buying are the massive corrections after a bull run, and last year is a perfect example. Bitcoin tends to correct with 80% on average after a fierce bull run, and the closer you buy to that 80% mark, the more likely it is that you buy near the bottom.

Whales don't have anyone to grab if people keep holding their coins instead of dumping so far down. In the end, there technically is no difference between a whale and a smart Bitcoiner with just a few coins who is utilizing the bear market to stack up on cheap coins. In both cases weak hands end up selling into the buy orders of stronger hands.