You are reading a single comment by @greentricky and its replies.
Click here to read the full conversation.
-
If there is no supply (an artificial constraint by whales hodling) on exchanges and it is all being bought up OTC, how does that not drive up retail price?
I fully believe it is a manipulated market by whales
It's no different than De Beers and diamonds is it with the market kept artificially inflated by controlling supply and distribution
greentricky
%~}
Bitcoin pricing isn't based on supply/demand!
Around 2% of bitcoin accounts (that can be tracked) control 95% of the asset. That further breaks down into ~92% of the 2% of accounts being 'whales' and only ~7% of the 2% being exchanges (or what you might consider a free/fair market).
It's the wild west, be prepared to lose your hat!