Post
Topic
Board Speculation
Re: Crossed 500 USD - Bull Market returns ?
by
apsvinet
on 25/08/2014, 17:52:51 UTC
Am I wrong or the bitcoin's value is mostly based by whales actions on the market?
Of course they can affect the price but it's hardly the only determining factor.

Whales have a huge impact on bitcoin price, because the bitcoin market cap is still rather small, compared to the stock and forex market.

They are only determining the month to month price however, and even if they dump out huge amounts the price always stabilizes after a while.