Do whales really control the market, or is that a myth

[brutalboy]

Is there any evidence that these mysterious 'whales' really control the bitcoin market, or is this a myth generated as people try to understand why bitcoin prices go up and down?

Market manipulation has existed for years. It was not invented by the media or something. Every market has significant players who can influence the market due to the amounts they have. So the phenomenon is quite old and well-known, but they do not call themselves 'whales,' of course. The name was coined by the media, I believe, but that does not mean the media have invented them. The media might have invented their name, i.e. 'whales,' but that's it.

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[Bonsaiav]

Is there any evidence that these mysterious 'whales' really control the bitcoin market, or is this a myth generated as people try to understand why bitcoin prices go up and down?

There is already a lot of evidence that leads there, starting from the purchase of very large bitcoin, which is enough to move the market price, as said by gabmen. Not a few of them who are involved as disseminators of FUD whose purpose is solely only to cause panic both through Infotainment media and the internet. Exchange, I'm very sure they have great potential as one of the popes for example tether.

It isn't that hard to figure that out even if you don't have actual evidence. Logically, if you have enough coins to manipulate the market to your advatage, why won't you? And i think there have been several instances where a single transaction from the same wallet address bought or sold enough coins to move the market.

[Keeping Up]

there may really be whales out there.
and they could indeed create an effect in the market price.
but i don't it is enough to say that they can control the market because of that.
what truly worries me is when people with lesser confidence see this sway in price and will begin fearing of losing their assets.
which will then result for them to sell what they have, which will in turn further decrease the market price....

[princeyeboah]

The crypto market is affected by many factors at a point in time. Most of the leaps and fall in prices come with obvious reasons such as the news of a big company integrating Bitcoin into their payment systems or a country adopting and legalizing Bitcoin. In some events, there is fall when an exchange site is hacked.
However, there are times when the market suddenly rises or falls without an reason or news. During these times, it becomes obvious that the whales who have great influence are on the market manipulating it to gain much profit.

[XiXiMios]

They can do what they want in the market because they have lot of money. They can pick a coin and pump it and then dump it whenever they want. They can manipulate the market if they want to.

[BitBite5]

I don't think that whales have such big influence as mayn believe. They are given too much power that they actualy don't have.
In certain way they might make impact on price but this is not so significant that might look at the first glance.

[The_Dark_Knight]

There have been a few times where it has been demonstrated that whales have controlled the market, usually it is not intentional market manipulation, but just due to either a huge buy in, or sell out. For example there are a bunch of large known wallets which people track, if these wallets suddenly start moving large amounts of BTC around it is clear that the amount of BTC available increases, hence the average cost decreases.

Yeah, in a way whales always manipulate the market no matter what they do, if they try to sell their coins this is going to decrease the price of bitcoin not only because of the increase in the supply but because people see this as a sign that people are losing confidence in bitcoin, but if they decide to hold their coins they also have a huge effect on the market since that decreases the supply and makes the price to go up.

[fuer44]

I also don't believe 100% if whales are in control of the market. if it really does control, why don't they control it from the beginning or a few years after bitcoin is created? maybe you will say "because this is the right time, because the price of bitcoin is expensive". In my opinion, if it is whales aiming for one profit, regardless of price, provided they have made a profit, they will do it. more realistically the cause of bitcoin falls is, the decrease in demands on bitcoin and investors who actually withdraw their investment.

[112_blockchain]

Of course, to exclude such a possibility is not necessary, but it seems to me that it is unlikely and at the moment looks like another conspiracy theory.

[ZoomhashLLC]

Is there any evidence that these mysterious 'whales' really control the bitcoin market, or is this a myth generated as people try to understand why bitcoin prices go up and down?

Market manipulation has existed for years. It was not invented by the media or something. Every market has significant players who can influence the market due to the amounts they have. So the phenomenon is quite old and well-known, but they do not call themselves 'whales,' of course. The name was coined by the media, I believe, but that does not mean the media have invented them. The media might have invented their name, i.e. 'whales,' but that's it.

This is my understanding of it as well. Basically once an entity has a large amount of money they can now be an "influencer".

From there it is all strategy.

[Caxton10]

This is not a myth at all. People with huge investment in bitcoin can alter the price if they make significantly large sums of bitcoin. Aside this there are groups of investors who pump and dump coins to benefit themselves.

[Emilyp]

They may not be a conclusive evidence on whales controlling the market but I believe they do. This is coming from an economic point of view, by driving supply and demand you will be able to control market price.

[Osayo]

There are actually whales that control the market. A whale is anyone that has a very large quantity of bitcoin. If some of them want to crash the price, they can simply dump large quantity and vice versa.

[DisWhale]

The concept of crypto whales is never a myth but a symbolic representation of personalities in crypto with large influence. Crypto is all about influence which can cause an increase in demand of a particular coin - increase in value of the coin. If an individual is able to cause this movement, then the person is seen as a crypto whale.

[RobotNIK]

A similar picture can be observed in every second market, where there is speculative trade.  So there is a kind of whale almost everywhere.
 It's really true that some investors control a disproportionately large share of most of the currency.  But owning so many assets, it's not the same as controlling their price.  A person who owns the lion's share of an asset can be a billionaire, but only on a laptop screen, and all because he simply has no one to sell his tokens.

[passeroutpass]

It is difficult to say for sure. However, I think that the market is being manipulated, because the market often moves very unpredictably. It reacts to the news not as I expect.

[Globalbitcoinl]

they do not control the market, they trade and earn on it. big money requires control, so it's a consequence, not a cause

[Nairazdenek]

it's just basic economic laws, market forces: demand and supply, check how transactions go, what atmosphere in media is and match it with price changes, if we can see big transactions together with strong pr then it must be whales

[ObroQ]

Is there any evidence that these mysterious 'whales' really control the bitcoin market, or is this a myth generated as people try to understand why bitcoin prices go up and down?

They don't necessarily control the market. They just have a big impact over it when they do transactions.any change, no matter how small or big it is it will have an impact over the market.

[gheawari431]

I don't think that whales have such big influence as mayn believe. They are given too much power that they actualy don't have.
In certain way they might make impact on price but this is not so significant that might look at the first glance.

I believe that the pope controls the market because their bitcoin ownership is very large, but its nature is not permanent. Because these whales are investors who are pursuing profits by shaking the market to obey their wishes. After making a profit, the pope will be silent waiting for the opportunity.