No one could deny that the world of crypto and trading is a world of power and mystery.
In one of my previous articles, i talked about the names of digital currencies and the extent connotations with their animal nicknames.
Today I would like to talk about the big owners of these coins or tokens, the dominators and the title that was given to them the "whales" of the cryptocurrency space . The whale is known as the biggest animal of the universe, likewise, those people have been given this title , because it fit them properly for they control about 95% of the cryptocurrency world, they hold a large amount of a specific type of cryptocurrency or several types.
The word whale , is so a popular word in the digital currency market, it means companies, entrepreneurs or people who have a lot of bitcoin, and the money they have is estimated at thousands of grains bitcoin, and when a particular whale enters a sum, it feeds on it and returns to it. After a long time, he may not return, but he leaves his mark on the system of the price of money, clearly as evidence of his passing. They are permanently purchasing crypto, their main goal is to increase money no matter the consequences would be.
Whales influence the market very much, if they enter a certain currency, it can break records, but mostly every whale works in its own way, and they are often united by large currencies such as Bitcoin and Ethereum.
Among the largest crypto whales I mention :
1. Michael J. Marine
Michael J. Saylor is an American executive and entrepreneur. He is co-founder and CEO of MicroStrategy, a provider of enterprise information, mobile applications and cloud services. In 2020, MicroStrategy Chairman and CEO Michael Saylor decided to integrate Bitcoin into the company's balance sheet as part of an unconventional approach to cash management.
2. Barry Silbert
is the founder and CEO of Digital Currency Group (DCG), a group of five crypto-related companies. Grayscale, a digital asset management company managing $28 billion worth of Bitcoin, Ethereum and other assets, is DCG's biggest source of revenue. Barry started buying Bitcoin in 2012 and quickly became one of the first major investors in the cryptocurrency industry.
3. Tyler and Cameron Winklevoss
Twin brothers Tyler and Cameron Winklevoss are embroiled in a legal battle over the creation of Facebook. When the brothers were at Harvard, they claimed Mark Zuckerberg stole the concept of social networking like Facebook.
4. Michael Edward Novogratz
Michael Edward Novogratz is a former partner at Fortress Investment Group in the United States. He is currently the CEO of Galaxy Investing Partners, a cryptocurrency investment firm.
5. Timothy Cook Draper
Timothy Cook Draper is an American venture capitalist.
Known for his early investments in companies like Skype and Tesla, Tim Draper first bought Bitcoin in 2012. He then bought around 30,000 Bitcoins seized by the Silk Road Police, a notorious darknet marketplace.
There are some specific characteristics to follow to reach the rank of whales. A successful trader or investor is one who completes 5 trades in a year. This means that in order to trade or invest in digital currencies, you need to thoroughly study 5 or 3 currencies. Its price is less than $0.5 and it is better to keep it for 1 or 2 years. Luckily, if your choice turns out to be lucky, you will be a small fish among great whales.
You can't be a whale as long as you monitor the price of your invested currency daily. There may come a time when you find yourself executing a sell order, but you don't know it just because the price has dropped sharply. As soon as you sell, it will return to the same price, but exceed it exponentially. So if you invest, avoid monitoring your investment or hosting it on another platform, Because time means profit and patience in this case will probably make you a little whale.
There are also large whales, who work silently and do not buy except with the scalping strategy and do not leave their mark and sell scalping again, in other words, they create a medium-term pump for themselves, they buy in stages and sell in stages as well, and this type of whale It is very dangerous and smart as well, as it reassures you and puts in front of you an ascending channel that is tempting to enter, and when you enter the line, you may win a little, but unfortunately, you find out that you are part of the strategy of the big whale.
Rumors said that whales are the cause behind the collapse of the banks, even Forbes points out that there are theories that blame "whales," which are the controllers of large amounts of one cryptocurrency or another and manipulate the price of Bitcoin and other currencies. Expert Glenn Goodman claims that “whales,” may be trying to lower the price of Bitcoin and crypto so they can buy more.
Crypto whales are a source of great concern for investors, as they are able to cause the price of this currency to fall by selling only a part of what they own.Many owners of huge sums of "Bitcoin" have known each other for years, have held on to the currency while everyone else is laughing at it, and can work together to lower or raise prices in the cryptocurrency market.Just as the whale makes waves swallowing everything it finds in its way and everything that floats on the surface of the water , when a crypto whale sneezes, the entire crypto world can catch a cold.
To conclude, The crypto world seems like a vast desert where you need a compass to stay on the right path taking into consideration the huge risks surrounding the m
Thanks for taking time to read.
Resources
https://www.investopedia.com/terms/b/bitcoin-whale.asp
https://blog.liquid.com/bitcoin-whales-crypto
