Whales and the crypto market
Certainly, if you have been in the crypto space for quite some time you would have probably noticed that there are times when some crypto token makes incredible exponential moves that keep us wondering what just happened, how could I have missed such a great opportunity to buy in earlier.
In case you wondering what happened some highly influential individuals just dump or pump a certain coin which could probably trend for a week or month before the reverse could probably happen.
Market manipulation could be controlled by some interesting group of individuals sometimes it's a one man's influence just a single tweet, could be a market crackdown, news installing fear on small investors, and the market could bear or bull from such news.
This market manipulation is sometimes controlled by what we call the Whales they are big investors who in most cases enter the crypto space just to make huge profits not necessarily there to explore blockchain technology they can exit or dump any certain cryptocurrency once their goal is achieved.
#Tesla announced accepting bitcoin to purchase their electric car was a good bull market for bitcoin which drove lots of investors to hold more bitcoin creating more market value for the pioneer cryptocurrency
On the other hand, a few months later investors were amazed to see some new changes bitcoin mining is bad for the environment which demand the use of alternative energy
An important disclaimer the sole aim of every entrepreneur/investor is making profit seeing his business flourish will be his ultimate goal, knowing your true intentions before entering the crypto space will be very important be very specific about what you want, being a whale is not such a bad idea, I'm sure we hold our token just to expect some future growth there's no point buying a token that will not make any necessary moves in near future.
Make proper research read on project whitepaper know what will be their goal in near future before investing with real cash.
Some powerful people can take advantage of market volatility and traders' psychology to manipulate the market to their convenience and profit, they are part of the ecosystem and sometimes help move the market.
Sure you are right whales play a vital role in the crypto space thanks much for the feedback.
@tipu curate
Upvoted 👌 (Mana: 5/6) Get profit votes with @tipU :)
The ways without being told are the once enjoying the market, I pray we grow bigger someday to enjoy this also.
Sure hope we grow bigger someday and make basic impact in the crypto space thanks for stopping by.
Hi @mccoy02
I just bumped into one of your older posts - one which attracted my attention. Hopefully you still will read this comment :)
Sometimes I wonder why we all get used to call those large stakeholders to be a "whale". Whales are peaceful and majestic. While most large stakeholders are far from peaceful and they rather act like predators.
Instead of calling them "whales" we should call them "sharks". Or even MEGASHARKS! :D What you say?
Indeed. Elon Musk is great example of people, who abused their trust of millions followers to manipulate the market with just few tweets.
Interesting read. Upvoted already :)
Cheers, Piotr
Thanks much for the feedback indeed i would agree with you whales can be peaceful, they can be regular investors trying to explore the crypto market, i never thought of the word sharks sound wild though i guess i now have more clue about their differences.
Cheers @crypto.piotr