The price and news seem never correlated. We were poured with all the positive technology news, yet cc price dropped. And sometime there is no news yet price doubles. Nobody knows what will happen in the near future. When are we getting a distributed exchange network that could facilitate all financial transactions, making them less expensive and more efficient? I'm starting to wonder if prices are manipulated? If whales dumped BTC, they must have done so to buy back at lower price, am I right? If that’s the case they plan to sell at much higher price in order to make profit, bull will run, right?
Positive news will not affect the market as positively when market sentiment is bearish, and vice versa. I think that has been proven over the last year or so.
When negative news came out within the bull market last year, the markets didn't really react to it because of the fact that everyone was still buying due to the fear of missing out, regardless of what actual developments were happening. Same with this year, even though there's tons of institutional news that they're entering the market, people are still bearish.
All comes down to emotions of people and how trading isn't always rational, I guess.
But you're wrong in saying that whales determine prices. That's just wrong. Prices are determined by supply and demand, in which big players can play a major role. But they're not the sole determinator given that there are many other investors in the market.
