well, i been thinking for a while about who actually controls the bitcoin price.
among the following below, which one do you think has the major influence regarding the bitcoin price?
i. bitcoin whales
ii. the banks
iii. wall street
iv. hedge funds
v. crypto exchanges
vi. crypto influencers
It is hard to make a precise answer for your answer. But I guess bitcoin whales are ones controlling the price of bitcoin since they have too many bitcoin in their hand. Bitcoin is an anonymous and open source currency, therefore, it is hard to fully manipulate its price, especially when there are too many people owning bitcoin in their house.
There is one more individual that I want to mention: Mr.Elon Musk. His tweets can create both FUD and FOMO not just in the price of bitcoin but the whole cryptocurrency market