Bitcoin, Cryptocurrency, News & Updates

Whales Are Having A Party This Weekend

Whales of the crypto-industry play a significant role in the manipulation of prices of crypto-assets. The crypto community had seen many times that the market is either manipulated by the narratives of crypto-whales or by their actions. 

Nevertheless, the current move of such manipulation is seen on the first weekend of February 2021. Where the bullish performance of the market hastily faced a fall after surpassing $40,000. 

Strategic Crypto-Whales

Whales play a massive part in hodling large amount of BTC. It’s one of the reasons they’re called ‘whales Related.’ with the BTC bull market of 2017, the number of accounts for BTC holdings has increased up to 3.7%. Crypto-whales seem to follow a strategy that helps them scoop more BTCs every time. 

As claimed by crypto analyst Lark Davis who closely analyzed crypto-whales’ behavior, the basic strategy always circumstance only one main interest, i.e., devouring more BTCs. The first swing in the market via massive short selloff. That results in a panic sell situation for the small to medium-size investors. The selloff via crypto whales creates a bearish behavior, which further increases the investors’ fear—eventually forcing them to sell their crypto at minimum loss. 

Tweets by Scott Minerd, the Global Chief Investment Officer of Guggenheim Partners, is doing the same manipulation job. He first asked investors to pull their money off the table and then forecasted that BTC would soon surpass $400,000. The two statements from the same person is a sign of manipulating the market for self well-being.  

This panic sell by investors brings a bearish stage in the market. And becomes a chief reason for sudden price fall. This is when big names of the industry start gobbling more assets, making the market bullish again. 

Don’t Be A Meal For The Whale!

It is smart for investors not to make decisions in a rush. If you are one of those who invested when the market is high, then selling in a panic is never a wiser decision. Rather, hold your digital-assets, and don’t let big names of the industry scoop your crypto-assets that easily. 

Also, the ups and downs in any market are bound to happen anyways. The bottom line is to understand the reason behind the price sink. Is it the outcome of some tweet, market conditions, or some spooky strategy of the crypto-whales?

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