Can Whales Manipulate the Cryptocurrency Market?

When you are this much invested in the world of the crypto market, you get to learn things; you get to know or experience different aspects of this vast financial throughput. One of these aspects is the volatility factor of the crypto market; it is bound that if crypto is soaring high in terms of price, then soon enough, when the bullish run concludes, the market corrections are going to catch up to it and it will definitely be shedding some of its prices in the upcoming weeks. Whales are not only aware of it, but they seek these certain intervals where crypto is at its worst in terms of price and value so they can just grapple their hooks into every coin or token they can get their hands on and buying the dip.

According to Scott Bauer, who is the CEO of prospering Training Academy, which is a trading platform has recently given an interview in which he says that the recent price correction for Bitcoin has been nothing but a blessing in disguise for whales because they are taking advantage of the market from every nook and cranny. They are accumulating more and more Bitcoin and without caring for dumping the asset to stabilize the market.

Whales Always Ignore Interest of Small Investors

They don’t dump, especially when the crypto is improving after a correction, but when Bitcoin is making exponential growth, such as when it reaches a new all-time high, you would definitely see the market going crazy as whales start liquidating their stash. If this is not taking advantage of the market and the cryptocurrency, then what it is, and currently, whales have it in their back pocket.

Whales are going to have the upper hand through and through, according to Scott, until unless Bitcoin is able to break the $42K barrier and move towards the $36K mark. Until that happens, the slow drizzle of the price change the Bitcoin is experiencing will continue. At the moment, all eyes are on Bitcoin as the coming few days are going to be very critical for the asset; who knows what it will do? Would it make some recovery towards the $42K barrier, or would it be able to break the $50K price limit; nothing can be said for now.

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