Crypto Whales influence and explanation in the crypto world.

[Deleted member 51169]

Most of us have been hearing about Whales in the crypto market and maybe asking who are they? Don't worry, I was once naive like you. A little research and market analysis helped me.
According to investopedia, "whales are a cryptocurrency term that refers to individuals or entities that hold large amounts of cryptocurrency. Whales hold enough cryptocurrency that they have the potential to manipulate the currency valuations". In the Bitcoin world, the biggest known well is its founder Satoshi Nakamoto.

Just like whales movement in water disturbs other little fishes swimming and feeding, so does these assets holders determines the market indices. Their entrance into the market can sway the prices of coin either against you or in your favour, because these Whales trade in large volumes.

You may be wondering how can one determine who they whales are. Welm, Whales are determined by monitoring of wallet addresses containing a minimum of 1,000 BTC. These wallets can be identified on the blockchain and then monitored for activity. Any incoming or outgoing transactions to/from these wallets may be of interest to market participants. In the dip of Tuesday-Wednesday a Whale was spotted buying large volume of Bitcoin. However, MicroStrategy is one of the known and named Whale for its major purchase of bitcoin in large volumes.


Nonetheless, other coins has their own whales too, like Elon Musk founder and owner of Telsa and Space X has been finger's to be A DODGE WHALE.

Written by Inspirator1

 

[Jasmine]

If I had one billion USD, I would invest all of my money to buy dogecoin at 24 cents (the current price). Since I invested heavily on dogecoin, there will be a demand created in the market. When there is demand, the price would increase. I would then sell all of my dogecoin and make easy profit. This is what whales are doing.

 

[Deleted member 51169]

@Jasmine, you are a thorough capitalist. Most people will see this as evil but this is the reality we keep shying away from. A Peter must be robbed for Paul to get paid.

Imagine how much Elon Musk is reaping from his followers, who are naive of this skirmishes from him. Now I heard, he is promoting Shiba Inu. Some will start shouting now that shiba inu is a coin with prospects without looking into analytical indices.

 

[btaliat]

The reason why I didn't invest in doge coins is that I knew from the beginning of the Elon Musk entrance to crypto market that everything was a game. Doge has been launched since 2013 as a meme coin. Which investor invest in meme coins? He played the game and he won.