The Whales; Myth or not

[Upgrade00]

Of recent we have had a couple of conversations discussing whales and their level of influence on the bitcoin market.

Most are familiar with the concept of, who a whale is. Someone who owns a percentage of a certain currency large enough to cause a disruption in the market through various actions can be referred to as a whale.

It is believed that a few hands hold a larger share of the total bitcoin in circulation.
While it is possible that this investors might know each other personally, that doesn't at all mean they all work together to manipulate the market.

Someone willing to invest a couple of millions in currency should have  a higher target than trying to make a quick buck by risking his assets. And with the maturity of bitcoin as a currency, (over 109billion in market value) manipulating the market is not as easy at it once was, but still as risky.

Whales are most times believers in that asset or commodity, more so than the average investor. And I don't see why they would risk their assets in an attempt to hurt and degrade the value of what they believe in.

Am not suggesting you be ignorant of market manipulations, but filter any information you get for bullshit.
As an investor, sharp, short market changes shouldn't bother you as much, and as a trader, rely on other forms of analysis, technical and foundamental.
And develop the right mindset to control your emotions.

[erickkyut]

Maybe most of the whales are the early adapters and investors on Bitcoin that's why they hold tons of it. I don't think that they know each other because it is a threat to their security and life if other people will know that they are holding a huge amount of Bitcoin.

[dohh]

Maybe most of the whales are the early adapters and investors on Bitcoin that's why they hold tons of it. I don't think that they know each other because it is a threat to their security and life if other people will know that they are holding a huge amount of Bitcoin.

Yes, I agree. Whales are essentially created by process, called halvening.

https://en.bitcoin.it/wiki/Controlled_supply

Pay special attention to "long term block". If the mathematical part of Your brain is at least semi-alive, You should easily understand, BTC is nothing more, than a scheme.

[Coyster]

The general market is definitely all about risks, and sometimes to maximize profits one needs to take a significant amount of risk, to be a whale in an investment in the fist place is a risk itself considering the large amount of assets..

So huge market manipulations by whales is obviously very much possible as they are trying to maximize profits and buy at a cheap price, you can call it risky trying to sell your coins,for the price to drop,so you could purchase at a cheaper rate, but to me it's definitely a risk worth taking, though it could be catastrophic if it fails..

I definitely think whales have a huge influence in the market as they own assets worth influencing the market,though we have to control what we actually take in, and avoid FUD, as this could actually reduce the influence this whales have on the market

[dohh]

The general market is definitely all about risks, and sometimes to maximize profits one needs to take a significant amount of risk, to be a whale in an investment in the fist place is a risk itself considering the large amount of assets..

So huge market manipulations by whales is obviously very much possible as they are trying to maximize profits and buy at a cheap price, you can call it risky trying to sell your coins,for the price to drop,so you could purchase at a cheaper rate, but to me it's definitely a risk worth taking, though it could be catastrophic if it fails..

I definitely think whales have a huge influence in the market as they own assets worth influencing the market,though we have to control what we actually take in, and avoid FUD, as this could actually reduce the influence this whales have on the market

I think, formula is like this: whales transfer huge amounts in few transactions between their own wallets, to create impression, that BTC is moving at that price level (thats why average transaction value is so large) and sell much smaller volumes for real money to newcomers ("investors", like You). Thats why median transaction is so low.

Now, as they basically milk real money out of late joiners, it will take some time (because, they have a shitload of eraly free coins) to sell those coins out by 0.05 BTC as an average.

You are scammed big time. And the fact, that some of You can make some money too (when whales manipulate price, some small holders can of course earn too) as a byproduct.

[bitfocus]

Whales are very much real and they usually controls huge amount of BTC (as we are talking BTC investment.)

[eSurge]

Whales are very much real and they usually controls huge amount of BTC (as we are talking BTC investment.)

Totally agree with you, however it's still questionable, to what extent can they manipulate the market, as doing daytrading with such amounts is an extremely risky business for the whales themselves.

[Kittygalore]

Maybe most of the whales are the early adapters and investors on Bitcoin that's why they hold tons of it. I don't think that they know each other because it is a threat to their security and life if other people will know that they are holding a huge amount of Bitcoin.

It probably is. Theres is really a huge possibility that those people or whales are the early adopters, but then we can also say that those are people who have a huge amount of money that bought bitcoin because they see the potential of it. But then no one knew still who are those. We can only assume that people in the market are the reason of the market's value, and not only some individuals.

[FedorIzmailov]

very good advice from the author. Indeed, big players risk much bigger sums than we are to blame and blame them for something absolutely pointless because if it were not for them, then perhaps we would not see such an increase in cryptocurrency over the past year

[YuginKadoya]

Maybe most of the whales are the early adapters and investors on Bitcoin that's why they hold tons of it. I don't think that they know each other because it is a threat to their security and life if other people will know that they are holding a huge amount of Bitcoin.

Early adopters may become whale if they sure invest back when the price is super cheap, And I really think the owner of the pizza delivery that  receives the 10,000 bitcoins back then had become a whale if he or she continued to accept bitcoin as a payment or wait up to this day for the price to really pump up, Well I am just saying the fact on maybe they become a whale and right now are manipulating the value.

[Red-Apple]

in this market people tend to believe a wide variety of weird things when it comes to the market and price movements which is i think mostly because they can not explain some of these trends and sometimes because of the way that FUD works. they first believe the FUD and act on it (sell too late at the bottom) and when the price goes up instead of going down according to that FUD they call it whale manipulation!

[rosemary4u]

I think the whales exist, in every society they are people who are far richer than the rest of the population. I believe the same situation applies in the world of bitcoin. Most of the whales are early adapters who had a strong interest and belief in  bitcoin, I believe they are now benefitting greatly in terms of finances from bitcoin.

[hugeblack]

The concept of whales is not limited to individuals. Some companies are considered big whales such as[ Coinbase & Bitman.] and some wallets which can play this role.
In the end, the goal is to achieve interests even if this causes some harm. Just like what happened with Bitcoin at the end of last year, "Spamming network for BCH" or companies trying to change it into a central currency and operating as an international bank. "Coinbase, ETF"  Or conservative do not want to support the market to reduce prices.
So whales are there, and they can change some rules of the game.

[dablatair]

Hello,

There is two parts for me, the individuals which are probably mostly historical early adopters and the big companies that could be considered as wahles in the different wallet they could have.

The first are for me most holders and the potential manipulation is more related to the second ones.

[semes]

I wish it was Myth. people who have a lot of crypto money can direct the market. In this way, while making a lot of money, they can create victims.

[Siren]

Maybe most of the whales are the early adapters and investors on Bitcoin that's why they hold tons of it. I don't think that they know each other because it is a threat to their security and life if other people will know that they are holding a huge amount of Bitcoin.

Yes, I agree. Whales are essentially created by process, called halvening.

https://en.bitcoin.it/wiki/Controlled_supply

Pay special attention to "long term block". If the mathematical part of Your brain is at least semi-alive, You should easily understand, BTC is nothing more, than a scheme.

Since Bitcoin is a scheme,then maybe the whole cryptocurrency are scheme also?

If thats the case,what are you doing here?Trolling the forum with your bullshit comments?

Go away ,we dont need you here .

And even if this is a scheme don’t worry its our decision to trust crypto and nothing can stop us from investing,so stop your misleading strategy

[Pursuer]

you know what, 90% of the times when people talk about whales in bitcoin market they are not talking about actual whales. instead they are talking about scare crows that they call whales that they create in their head to scare people with. for instance recently there is a trend going on about "watching whales". or "whale watching" as some people like to call it! (it's a thing now haha)
what they do is that they try to find a big transaction on the blockchain and then start making up stories about it saying it is a whale moving coins to exchanges to dump and crash the market. the funny thing is that if you really analyze the blockchain you would see such large fund moves happen regularly and it has nothing to do with whales and dumping.

[GenesisDominguez]

Considering all the facts, it is unlikely that the whales are myth. The whales are very much real and they have enough crypto in their pocket to make a significant ammount of change in the crypto market.

[rose9696]

right. This market has only small fish confronting whales. But that does not mean the whale will never hurt. There have been many cases of manipulation and some manipulative organizations have gone bankrupt. That happens because the psychology of small investors like us always hold when the market goes down. Train and control your emotions well for this battle.

[SidneyFoley]

Well, there's huge possibility of the existence of the whales and of course their action would affect the market highly. But as it is the possibility of every currency and still the business is still going on, so there should be no need to worry about it.