As an active community writing quality articles about cryptocurrency and finance we simply have to be informed and keep all Hive Blockchain users informed and since 24 hours ago we have seen a crypto crash, I have seen many times the hashtag #cryptocrash that for more than 24 hours has been trending on Twitter. I think the reasons for this event that many consider a good opportunity for investors and I really agree with that are due to the Bitcoin whales, remembering that those who can move the price of Bitcoin are the whales and I think we are going through a time where they are controlling the price to buy much more Bitcoin and a little further down I will show you my opinion about it.
Can whales manipulate the Bitcoin price?
Whales are people who have a lot of money in cryptocurrencies, they are even people who have more than 1B dollars in cryptocurrencies. From my point of view is something that you should have very clear if you read this, now, I will touch some terms about tokenomics and how you can manipulate the price of a cryptocurrency.
In this example I will talk about Leo Power Up Day (LPUD) which was an initiative of @anomadsoul who is the administrator of the @leogrowth account and I will talk about how a cryptocurrency can be manipulated with the supply and demand of the cryptocurrency.
When there is a lot of selling pressure for a cryptocurrency and there is very little demand for a cryptocurrency the price usually decreases to such an extent that it can even be worth 10 times less than its current price and in this case I will also talk only about liquidity pools and how this affects the price of a cryptocurrency.
Conslusion
It is obvious that the Bitcoin price is being manipulated by the big whales and that is something that is very clear. From my personal experience many whales have agreed to increase the selling pressure and decrease the buying pressure on the Bitcoin and as many of you know the Bitcoin is the cryptocurrency that drives the price of Altcoin in general. I also think they have removed some assets from the liquidity pools and have increased the buying pressure with these assets.
Many people have commented on the binance CEO and FTX CEO feud and I think this is not even 20% of what is going on, yes, they are right, these people are whales and from my point of view they are buying Bitcoin, Solana, BNB and maybe placing assets in liquidity pools to come out with profit and mostly deal a bit with this crypto crash.
Bottom line. I think what is happening is simply a decision that the whales have taken to make profits and fatten their pockets with this, although you should do it too, I think it is a good time to buy cryptocurrencies and especially Bitcoin.
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