Bitcoin has always moved like this, even more violently in the past when it was only retail in the market.
The float is small and that’s where bid/ask determines spot price.
Regardless of who is buying this is part of the adoption process. If Bitcoin is to remain operational then this is inevitable and only the beginning of concentrated capital getting involved.
true!
Nasdaq is melting up too (obviously not as much)
The average retailer has never contributed to the price moving so aggressively - it is whales who are doing the buying and causing the price action, and I would not consider them retail in the traditional sense.
I think who is buying and selling is a big contributing factor. When the price pumps, Bitcoin does not suddenly see a massive spike in adoption based on aforementioned reasons.
Retail speculation collectively has dwarfed whale buying many times in Bitcoin.
Why worry about something that’s out of your control anyways? Hodl keys and chill.
