Post
Topic
Board Bitcoin Discussion
Re: With whales affecting market prices, what is the volatility of Bitcoin?
by
sapnu
on 25/06/2021, 13:38:31 UTC
To what extent is Bitcoin fluctuating because of whales affecting market prices, and to what extent because of new investors or external investors?
Indeed whales holds a huge amount of block in bitcoin and their actions somehow affects bitcoin's price but still, it is not enough to make it able to manipulate the price movement in the market. The market is too huge and bitcoin's value will not be easily be affected even through a whale. Such incident's like Elon Musk's influence towards people affected bitcoin's value not because he is a whale capable of doing so, instead he was able to affect the price because of his influence as a person with a billion net worth. Maybe some of his whale friends helped but still, bitcoin will soon again recover.