In theory, this is true that bitcoin is only controlled by the users. This is completely a game of demand and supply. The more there is demand, the more high the price of bitcoin because its supply is limited.
However, in reality, there are big whales, investors and exchanges who manipulate the market as they have a lot of bitcoin to sell and then rebuy and in this way, they keep on increasing their holdings and retailers are the ones who lose money by this manipulation.
However, in reality, there are big whales, investors and exchanges who manipulate the market as they have a lot of bitcoin to sell and then rebuy and in this way, they keep on increasing their holdings and retailers are the ones who lose money by this manipulation.
Big whales and exchanges are the only ones who truly control the market. If it wasn't by that, Bitcoin's price wouldn't be as volatile as it is right now. As it's said in the real world: "Money Talks". When there's money to be made, you can expect the unexpected. I'd focus more on how Bitcoin can change our lives for the better than just looking at price charts everyday. After all, crypto is about utility. Not a means to make you rich quick.
Remember, 1 Bitcoin = 1 Bitcoin no matter what. It doesn't matter who controls the market as long as the underlying blockchain network remains decentralized. Hopefully, the market will stabilize after regulators come into play. Just my opinion
