How to withstand whales?

[steve_rogers]

Hey guys, just found a mind-blowing article about whales and "skype trading".

A small group of about twenty over-the-counter (OTC) traders and clients including big investors, miners, payment processors and hedge funds, has reached a monthly trading volume worth billions of dollars. Instead of using an online exchange like Coinbase or Kraken, the participants close major deals chatting on Skype and settle them by sending fiat via bank wires and cryptocurrency directly to each others’ wallets.......

So in December, when common people sold houses and cars or took loans in the bank and bought bitcoin during its unprecedented growth, bankers quietly sold all the bitcoins out of the exchange at high prices, and this did not affect the exchange rate, but when not over-the-counter areas were over, they came to the stock exchanges and the remains of bitcoin were already sold on open exchanges, causing a price collapse.
If a whale wants to buy bitcoin for $ 500 million and go with this amount to the one of top 5 exchanges, such as Poloniex or Binance, he can in one trading session, push the rate one or two thousand dollars up, and that's exactly what he does not need.

What are your suggestions??? I think the only way is just HODL despite the fact of price collapse.

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[merchantofzeny]

I half expected this to be happening. If you think about it, people rich enough to be investing millions in different projects would already have a large network, so it's not far-fetched that they'd decide to invest and act collectively in that investment. There are whales everywhere, in stocks for example.

Sure, hodl but if you can, ride the wave with the whales.

[Harlot]

Still it cannot prove that not all whales are doing direct trading to each other. If whales need to push the price down they cannot do it just by selling or exchanging FIAT to each other. If Skype Transactions are there way to deal it is because they just want an exact amount or quantity of crytpocurrency they want to get in exchange of their money without influencing the market, but they will always base their trades on the current market value of the cryptocurrency, and they won't stray away far from it.

[Nick Abimanyu]

HODL is the single most effective and appropriate way of not feeding whales, but we also have to make a purchase. How wonderful if the plan is done simultaneously by all bitcoin users without exception, but it seems difficult to do because some of us are still many sell bitcoin even though the price is low.

[zolfa]

I agree with you, because the sale of bitcoin with high value will make the skeptical bitcoin value and unstable bitcoin value.
Finally, bitcoin confused should stay at which point.

and our attitude is holding or buy along with whales.

[steve_rogers]

Still it cannot prove that not all whales are doing direct trading to each other. If whales need to push the price down they cannot do it just by selling or exchanging FIAT to each other. If Skype Transactions are there way to deal it is because they just want an exact amount or quantity of crytpocurrency they want to get in exchange of their money without influencing the market, but they will always base their trades on the current market value of the cryptocurrency, and they won't stray away far from it.

If you have read attentively the article and my comment, it was mentioned that if they want, a single whale could manipulate the price of centralized exchanges (where trade the majority) the way they want, that's not a problem at all for them.

[MakeMoneyBtc]

Do you really have another option than holding? You can probably sell now and remain with a very big deficit, you will probably recover less than half of what you have invested. I would say it is better to take the risk and hold your bitcoin for the future because the price is more likely to go up after this big fall. Bitcoin had a few moments in the past where the price increased very much and after that drop very low but it always recovered and increased even more. I think the history will repeat again because it is to early for bitcoin to end now

[steve_rogers]

Do you really have another option than holding? You can probably sell now and remain with a very big deficit, you will probably recover less than half of what you have invested. I would say it is better to take the risk and hold your bitcoin for the future because the price is more likely to go up after this big fall. Bitcoin had a few moments in the past where the price increased very much and after that drop very low but it always recovered and increased even more. I think the history will repeat again because it is to early for bitcoin to end now

Dude, firstly you asking me if I have an another option, and than you propose the same.... where is logic?

[JuniAiko]

I simply HODL, and buy more whenever I get my salary if the price dips.

[Rozita]

The best thing can be done is HODL which is not easy. It's difficult to see the value of our investment is falling. Many people lose this game and only few people who really believe bitcoin can earn money.

[Nick Abimanyu]

I simply HODL, and buy more whenever I get my salary if the price dips.

Nice!. I like your way I hope this action is followed by all other users wherever located.

The best thing can be done is HODL which is not easy. It's difficult to see the value of our investment is falling. Many people lose this game and only few people who really believe bitcoin can earn money.

In addition, if bitcoin prices are in a state manipulated by the whales, HODL is impressed in a forced and painful,  only HODL is the single most powerful way to fight whales.

[dimplit]

we need to monitor whales, if they sell, then we also need to sell everything.

[steve_rogers]

we need to monitor whales, if they sell, then we also need to sell everything.

Dude, it is too dummy tactic  At least it is better to hold, or I don't know, try to learn some things about trading, but stupid following the whales wallets is an already lost game.

[Coin-1]

Bitcoin was designed as a peer-to-peer payment system, therefore an crypto exchange markets are no needed to make a transactions between users. I think the "gray" price of Bitcoin correlate to its price on the exchanges anyway.

How to withstand to "whales"? Just be a strong "whale" who is buying when they are selling their crypto currencies.

[squatz1]

You can't fight the whales; you can't try to see when they're going to buy, you can't try to do anything that is going to time the market. I don't know when, but at some point, people will notice that if they want to make money in traditional markets (and for crypto, as this hasn't failed yet), you have to HODL. You can't go ahead and sell to cut your losses, just HODL and keep buying back.

That's the only thing which has worked to date, so don't try to reinvent the wheel with trading. Follow what has worked, and what will probably continue to work.

[entrepmind23]

The small fish in the sea cannot beat the whales so what we can do is to ride with them. It is not easy to determine what the whales are thinking and since they have been communicating with each other, they can decide whatever they can and move the price without problems for their own advantage. For us, we can see some hints on what their next move will be base on the movement in the price, the increase in long or shorts or the sentiment of the people through media manipulation. We can either hold on to our coins when they decide to push it down and maybe accumulate more of it and ride it when they decide to push the price higher.

[pooya87]

you are mainly using this article to exaggerate things and even spread some FUD!

Hey guys, just found a mind-blowing article about whales and "skype trading".

this has been happening for as long as bitcoin was around. not everyone trusts exchanges or wants to use them. they prefer a more decentralized (peer to peer) way of trading bitcoin. it may also sometimes be because of taxes.

So in December, when common people sold houses and cars or took loans in the bank and bought bitcoin during its unprecedented growth,

you say this as if it was a thing! maybe someone was idiot enough to do something like that but it was not a major thing. most people invest more responsibly than that. some always take dumb risks.

bankers quietly sold all the bitcoins out of the exchange at high prices,

this doesn't even make any sense!

but when not over-the-counter areas were over, they came to the stock exchanges and the remains of bitcoin were already sold on open exchanges, causing a price collapse.

i call conspiracy theory at best. the drop would have come anyways because of the bubble at $20k and whenever a big drop happens and weak hands are flushed out for good the prices drop more like this. it is inevitable and doesn't have to have some evil group of people behind it.

If a whale wants to buy bitcoin for $ 500 million and go with this amount to the one of top 5 exchanges, such as Poloniex or Binance, he can in one trading session, push the rate one or two thousand dollars up, and that's exactly what he does not need.

nobody invests that much money in anything, not just bitcoin. if you invest $500 million in stocks or even gold in one go, you will change its price significantly! what they do is that they invest slowly and based on market size.
and by the way neither polonies nor binance are considered top when it comes to trading bitcoin. they do NOT even have a fiat market!

What are your suggestions??? I think the only way is just HODL despite the fact of price collapse.

not a good suggestion. there are a lot of options when there is a big drop on the way. HODL is only true when price reaches the bottom and you are too late to do anything else. other than that the dips are a good place to make a huge profit and increase the amount of bitcoin you own.

[xxToaDxx]

Lol,  I don't think there is a particular way to withstand whales from coming into an exchange,  but here is a trick,  always watch the change of the exchange you trade and the buy and sell order placed already,  if you see any unusual order with large volume , it means a whale is close by,  if it's a buy order at low rate , immediately change you price to also make purchase at a very low rate.

[mammothine]

Be friends with whales and they will be friends with you.

[steve_rogers]

Be friends with whales and they will be friends with you.

It doesn't work in such way
If it was true my best friend would be Arnold Schwarzenegger