How can whales manipulate the price of a cryptocurrency?
Many of us wonder how cryptocurrency whales can manipulate market prices or even worse how whales can manipulate the market price, this is something literally very much mentioned worldwide and in this post I want to focus on how we can build a cryptocurrency whale and how these whales can make the price skyrocket or make the price go down in a few hours and this all depends a lot on the amount of money that these people have in their wallets.
How can whales manipulate the price of a cryptocurrency?
Cryptocurrency whales are very well known eh even they are differentiated by having a certain amount of cryptocurrencies, this amount is usually very high if we talk about value in US dollars, a whale usually has more than 500,000 cryptocurrencies in its wallet and having this amount of cryptocurrencies in a wallet is not cheap, in some cases you need more than 1 million US dollars to have this amount of cryptocurrencies.
A cryptocurrency can go up or down in price because these cryptocurrencies have a supply and demand, when many cryptocurrencies are bought and there are not enough in liquidity to buy such cryptocurrency then this is usually something that increases the value of the cryptocurrency, I would like to mention that when more than 70% of the cryptocurrencies are in staking the price is usually very high and also the price is usually very stable.
Conclusion
The price of a cryptocurrency can be manipulated very easily by people who own an extremely very high amount, guys and this will simply be a mystery, because not only the price of the cryptocurrency is determined by the supply and demand of it, but there are also other factors and that is why I would like to comment something from my personal point of view, when it is the day of "Leo Power Up Day (LPUD)" and many people participate in this initiative, the LEO token usually goes up in value and the same happens with "Hive Power Up Day (HPUD)" and this from my point of view is something totally great guys, because honestly we are putting in place a good strategy for the price of the Hive cryptocurrency or the price of the LEO token to stabilize and in that way have much more certainty that this cryptocurrency can go to the moon at any time or just stay very stable.
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