Cryptocurrency Whales are specific addresses that usually hold huge amounts of a particular digital asset like Ethereum or Bitcoin. Whales have so much power and influence on the crypto market. As such, they can cause shifts in the crypto prices, causing panic selling. However, employing accurate strategies to assist in overcoming the need to panic sell cryptocurrencies is essential. Nonetheless, a sign of a well-seasoned investor is not making haste decisions at any sign of market instability. To be accurate, most investors are risk-averse and always want to avoid losses. Regardless, for a good investment, a long-term mindset and logical approach are keys to outsmarting short-term down markets. Crypto Whales Crypto Whales refer to individuals or groups of people to come together to hold a large share of a specific coin in the crypto market. Whales normally include Bitcoin Investment Funds and Hedge Funds. Among them are Falcon Global Capital, Bitcoin Reserve, Pantera Capital, KPMG, Bitcoin Investment Trust, and Fortress, among others. The Whales can cause market shifts in prices. An example was an instance in 2014 where someone posted a sell order of 30,000 BTC at $300 each, which was below the mid-300s bitcoin price levels. The large order size spooked the crypto market causing the price to plummet to low levels not witnessed since November 2013. Based on recent data, the top 3 BTC wallets hold 3.05% of the total coins, that...
