>Holders of large amounts of bitcoin are often known as whales. And they’re becoming a worry for investors. They can send prices plummeting by selling even a po

>Holders of large amounts of bitcoin are often known as whales. And they’re becoming a worry for investors. They can send prices plummeting by selling even a portion of their holdings. Written another way: People who would be financially penalized greatly for selling might sell! The media and public believe that a group of people who want nothing to do with fiat currency might all of a sudden decide that they were wrong all this time and take massive positions in fiat currencies. Why? My only guess is that the media believe people buy Bitcoin just to ride the wave up when what's actually happening is people are exiting the fiat system. This is why Bitcoin's price curve is similar to trading pairs associated with hyper inflation. A Venezuelan who holds dollars isn't going to suddenly want to take a huge long position on the Bolivar. At minimum they'd exchange the only minimum amount to transact with someone who doesn't except the dollar (or Bitcoin) yet.