A study conducted by an observatory of the digital currency market shows that the largest Bitcoin holders are a variety group that can contribute to price stability instead of destabilizing the market. The analyzing 32 profiles, which are the largest and which capture the largest share of Bitcoin, on the heels of rumors that a market giant controlling 2 billion dollars of Bitcoin can solely lead to a 15% drop in the Bitcoin value by selling more than 50.000 of this currency in one month.
Sudden drop in Bitcoin value made Bitcoin investors wary of a market that could be dominated by a few giant players with the power to move the market the way they wish. Bitcoin lost two-thirds of its value from the historical peak of $ 19,500, which was reached in December last year, and since then the world largest digital currency has been in a sharp declining channel. Some experts predict that they see no chance of a return that is working to record gains for the rest of this year.
The study also mentioned that Bitcoin giants, although having the ability to do large enough deals to move the market, it seems that they have kept the transactions at certain limits to avoid more Bitcoin losses and loss of trust.
The largest of the 32 Bitcoin profiles accounts for about 1 million Bitcoin, worth about $6.3 billion, and only about one-third of them are engaged in the Bitcoin trade. Data suggests that during the main drops in prices in December 2017 and most of 2018, the giants were in fact buyers of Bitcoin. The research indicates that while Bitcoin giants could be large and mysterious, their effect on the market prices is less than largely expected.