Replying to Avatar Sovereign Being

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.
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BTC_P2P 1y ago

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.

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Sovereign Being 1y ago

Retail will FOMO in at the worst of times, regardless of what the means for Bitcoin in general.

I'm just trying to gauge what people think is moving the price.

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BTC_P2P 1y ago

Yeah speculators for sure buy the top. Bitcoiner’s buy consistently but we are in the category of retail too.

I think Bitcoin price is always a combination of many factors. Big global cauldron of retail, traders, capital markets and in this market hashers play a role too.

No doubt this ETF buying is contributing with the numbers they’re posting.