well, i been thinking for a while about who actually controls the bitcoin price.
among the following below, which one do you think has the major influence regarding the bitcoin price?
i. bitcoin whales
ii. the banks
iii. wall street
iv. hedge funds
v. crypto exchanges
vi. crypto influencers
In general, price of bitcoin or any asset should be driven by demand and supply in the perspective of economics. Price will have a lot of factors as well in terms of economical, political, etc aspects. Not because price of Bitcoin is so volatile doesn't mean someone controls it already. With your question, I may say that in 2021, its the INSTITUTIONs. In 2017, it was actually driven by mainly FOMO.
I truly believe that each asset has its own unique audience especially Bitcoin with its volatility. And this makes investors driven to pursue more and research especially to other cryptocurrencies as well. Once the world sees its real value, I bet it wont be as volatile as it is now, as a trader - take the chance now.