@BankofEngland, Thanks. Your thoughts on the following? https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market?cmpid=BBD120817_BIZ&utm_medium=email&utm_source=newsletter&utm_term=171208&utm_campaign=bloombergdaily
@Enhancement321, I not only agree with that, but have seen this. Bitcoin is not the only crypto with "whales", about every coin has whales that manipulate pricing. These "whales" form when coins first are offered. Otherwise, most coins would just simply go up without must resistance. Look at an order book from any exchange for any crypto, from small coins like Ripple to Ether, there is always a huge buy/sell order manipulating the price. When you see a giant red wall of sell, it puts panic in traders who in turn sell because they believe the price is coming down hard. This is just the name of the game in any trading of stocks, commodities, forex, and crypto. Biggest example is silver manipulating and crash of a few years ago.