Whales are individuals or entities that hold large amounts of cryptocurrency and can influence markets with their operations. For example, if a whale sells a large amount of bitcoins, it can cause a drop in the price of this cryptocurrency. On the contrary, if a whale buys a large amount of bitcoins, it can drive an increase in the price. Whales usually have a long-term strategy and do not get carried away by market emotions. Some of the most famous whales are Satoshi Nakamoto, the anonymous creator of #Bitcoin , who is estimated to have more than a million $BTC ¹, and the Winklevoss twins, who own more than 100,000 bitcoins² .
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To identify whales, various tools can be used, such as blockchain explorers, which allow viewing of large transactions and cryptocurrency address balances.
You can also follow the whales' updates on social networks and on accounts that cover their activity. However, one must be careful when relying on whales to make #trading decisions, as they may have hidden interests or use deceptive tactics to manipulate the market. It is best to do your own analysis and have a well-defined trading plan.
I hope you found this information about whales in trading useful. If you want to know more about the topic, I recommend that you visit these websites:
- [What are #Criptomonedas whales and how can you identify them?](^1^)
- [What are cryptocurrency whales and why are they important in the market](^2^)
- [The whale in the market. What does it mean and who are the whales?](^3^)
- [What are whales in the cryptocurrency market](^4^)
- [What Are Bitcoin Whales?](^5^)
BIBLIOGRAPHY
(1) What are cryptocurrency whales and how can you... - #Binance . https://academy.binance.com/es/articles/what-are-crypto-whales-and-how-can-you-spot-them.
(2) What are cryptocurrency whales and why are they important in the.... https://www.coindesk.com/es/tech/2023/03/17/que-son-las-ballenas-de- cryptocurrencies-and-why-they-are-important-in-the-market/.
(3) What are cryptocurrency whales and how can you... - Binance. https://academy.binance.com/es/articles/what-are-crypto-whales-and-how-can-you-spot-them.
(4) What are cryptocurrency whales and why are they important in the.... https://www.coindesk.com/es/tech/2023/03/17/que-son-las-ballenas-de- cryptocurrencies-and-why-they-are-important-in-the-market/.
(5) The whale in the market. What does it mean and who are the whales.... https://tokeny.pl/es/criptomoneda-mercado-de-ballenas/.
(6) What are whales in the cryptocurrency market. https://dineroytrabajo.com/que-ballenas-mercado-criptomonedas/.
(7) What Are Bitcoin Whales? - Cryptotarian. https://criptotario.com/que-son-las-ballenas-de-bitcoin.
