Quote from: bakasabo on Today at 08:33:15 AM

Quote from: Lubang Bawah on Today at 06:38:43 AM

Quote from: mzuhry19 on Today at 04:05:54 AM

I don't think it's just the whales that control the price, maybe there is an effect when they sell some of their coins and the impact drops in price then that's when the market panics and there is a sale

When there is news that Elon Musk sells Doge and Bitcoin but there is no significant price decline, this makes us optimistic that cryptocurrencies are not dependent on the whale, maybe they have large amounts but will not be able to control prices.

Elon Musk is not a cryptocurrency whale, but more a influencer, that has lost a lot of trust. That is why his deal with crypto does not effect market much now.

But I dont think that whales control the price either. At first I thought that those who had mined thousands of Bitcoins, when mining was easy and started mining very first are the ones who control the ball. As they sell just a tiny part of their balance to make a significant price drop. But now I think that Bitcoin is going up and down by itself. Because how else you can describe the situation when demand is huge, price can be both high or low.

The cycle might change hands. It's no longer the bag holders that do influence the market. There are now institutional investors who are

waiting for that bag holds to be dump and they are willing to buy and hold it till the next pump takes place. We are now witnessing more

strong holders that cater for the market. Though there are still weak investors who can be move when whale shake the market, but it's not

too many, unlike way back that fears really affects the market and creates massive panics.