Source: rt.com
With all the bitcoins in circulation, nearly 40% of them are in the hands of about 1,000 investors. They wield the power to move the entire market by dumping a large quantity. This is the same strategy used by the large commercials in the COMEX market when they manipulate the price of silver and gold, they only difference is that the COMEX traders don't use physical metals. Maybe there isn't a difference considering that bitcoins are not physical either.
Since cryptocurrencies are not considered securities, there are no rules like bid rigging. It is legal for some whales to cooperate together and devise an united trading strategy to move the market.
Yes, but thank God those BTC whales are not wall street demons. They will not crash the market.
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I wouldn't count on it. Thank you for the comment.
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