In commodities 10% I rate as a very possible move, I dont know its correct place but thats where I place BTC in volatility for comparison. So the way oil can spike on changes, big politics and all that, it seems to fit the background to what might drive BTC also.
Oil is going up btw because Venezuela and couple other places are underperforming (greatly). Yea OPEC restricted production some but these other factors have been a tail wind that helped oil higher rather then opposed which was very possible. Iraq for example has production and reserves could in theory out size Saudi Arabia, long term oil should not spike but of course dollar is weak. Theres always story behind price movements, unintentional usually.
When Venezuela falls over, its probably a sell for oil longs only then
Do whales know something we dont? Just read somewhere a whale moved 90k coins to exchanges.
Whales dont determine the market despite their size. If BTC is all about the largest elements being the most important factor then Im in the wrong place anyway and I dont expect crypto to amount to much in that case. Capitalism itself is capital and production with the people, not top down evil Megacorp like most people think how capitalism must be a negative. Thats all we know within this generation or so but a correct economy would be from bottom up. Even now you shouldn't have to go far to find that the fastest growth will always come from the smallest participants in a market, people, small enterprise and so on.
It really is not about the whales, I hope BTC reflects that and is better engaged with capitalism then dollar and the fractional reserve global system of value it has become. If it BTC is a better match it will rise, all this price dancing about is not a determiner and the largest whale on an exchange is just a side show to a far larger global picture of trade and growth from people not government spending/debt
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