Bitcoin Whales Are the Smart Money. Don?t Be the Dumb Money
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Summary
They also had the advantage of controlling most of the world’s mining.Just like diamonds, bitcoins are inherently worthless and being hoarded.Just like diamonds, bitcoins are hyped by those who control it, and the media does the rest.Thus, it’s possible – not definite – that the price of BTC will continue higher until the whales bail.Mark my words, they will bail.Don’t end up as the bagholder.Whale activity like this is common in markets with limited supply.We are seeing it now in the New York City taxi medallion industry.
As said here by Lawrence Meyers