I have been pondering a lot on this question about the so called whale or whales who tends to posses a very large amount of a particular coin, thus, can therefore decide and manipulate its price. Here is my question, as of today 13th Of October, 2018 according to Coinmarketcap the circulating supply of Bitcoin is 17,319,950 BTC which is valued at $109,223,445,757. In order to have a 10% effect on the price of bitcoin then one needs to own 10% or more of the total in circulation right ? That is valued $10,922,344,575 ($10.9223446 billion USD). Is there really someone or a group of people that owns 10-20% of the supply that can manipulate the price, as people do say, or is there some other way around the manipulations ?
Whales are not any individuals, its like institutions have hired some people to invest in market from their end and take trades, they were given an amount to trade, individuals may have good amount trade but its not possible that he/she can fluctuate the market, its the institutional investment that makes changes, an individual even if have billions usd, he/she would not dare to take risk of all his/her capital.
