Bitcoin market still has a whopping 'whale' (major investor). When we say this, we rely on the knowledge that 28 percent of the current Bitcoin amount is actually held in only 1600 different Bitcoin purses. According to the wallet on BitInfoCharts, only 0.000074% of the total number of wallets and 40% of all coins are kept.
At least 1000 bitcoins are included in the purses and a total of 5 million Bitcoins are kept in these purses. There are 448 thousand 218 Bitcoins in total in three lines with the most 'look', which makes more than 3 billion dollars. A recently published report claims that one thousand 600 investors, known as "Bitcoin whales," have reached a total of $ 37.5 billion Bitcoin, which amounts to one-third of the total number of Bitcoins.
Chainanalysis data, according to a report published by the Financial Times, less than 1000 Bitcoin in total shows a thousand thousand different wallets.
Philip Gradwell, chief economist at Chainanalysis, recently commented:
"This concentration of wealth indicates that Bitcoin may experience price-based variability because very few
Bitcoin, the most prominent coin of the crypto money market, managed to see the levels of 20,000 dollars at the end of the year we passed, almost at the level of 9,000 dollars at the beginning of this year, now 7,000
Chainanalysis data also show how much profits were earned by those who invested early in the market before the end of the year when the market passed by 'speculators'. According to statistics of November last year, the number of Bitcoins held by long-term investors was three times higher than that of short term investors.
The fact that the crypto money market is still not legally regulated by many experts allows the whalers mentioned in this article to manipulate prices.
Source: Amb Crypto
In addition, the OTC trade frequency in the market is also the work of these whales.