Topic: Are bitcoin whales complete morons? (Read 730 times)

We are not interested in whales pumping the market for us because this action of their end up damaging the market badly and pulling lots of people down, the same way they acted in 2017 and damaged the market badly is the same thing you are inviting here.

Whales are just here for their selfish interest but we need large firs and large financial institutions that will take bitcoin seriously and start using it and also introducing it to their customers, if we can get a massive adoption from these people, then the market will pump naturally that even if people are doing shorts, it will not pull the market down.

It is not that they are idiots, maybe he needed the money or maybe he was interested in a much more juicy investment than what he had here, it may have influenced some information handled by other people and that came to him and decided to sell, because if he left If you win that, you could have gained much more with another type of investment in a more stable currency, since the most stable currencies are the safest and the first ones to give very high profits when the bitcoin rises or is placed in a bullish trend.

The Strong Hands are operators who have squared all their movements very accurately, maybe the idiots are the ones who think they are idiots, because these people have many analysts who work for them and their own criteria, because they handle large amounts of money and these large amounts are supported.

In addition, no one can be a fortune-teller in thinking that in 3 or 4 days it would increase, but it is necessary to emphasize that those sales were to himself in another account to test the price range and to lower it so that the market reacted, then it could have been that has sold those coins to the same causing a possible bullish reaction, and won in the same way, because the whales, strong hands make such movements to deceive operators, this is very normal in both the crypto market and the stock Market, usually the whales always win, with very little failure percentage they lose, very few times they do it.

Instead of say that they are morons, actually they help us to pump bitcoin price. Even it is only rumour, but whales who pumped crypto price is can be logically accepted. And about people who lose because buy in high price, the risk is taken by ourself.

The wildest speculation so far that I have seen is that BitMEX was behind the dump to liquidate the crap out of the long positions, but another conspiracy theory without proof to back it up.

Overall, having that many coins by default grants you a massive advantage over the rest of the market due to how thin the books are, so from there it makes sense to have a leveraged side trade on BitMEX.

There are no set rules that makes side trading illegal or whatever, so traders are free to do it. People here are upset that the price went down instead of up, that's why they call it manipulation.

Some whales are definitely morons, there’s no doubt, at least when it comes to markets.

It’s impossible to know though if they’re just dumping into a thin book and unintentionally accumulating slippage, or if this guy was actually trying to move the market.

If this guy was just dumping coins for fiat, he’s an idiot, because it would likely be impossible to rebuy lower again with any certainty. But If he was positioned on Bitmex to profit from the mass long liquidations, it’s a different story. This may have been a way to sell thousands of coins to fiat while simultaneously recouping them with shorts on Bitmex.

I get your point, but slow rolling as you call it, may result in another whale to tank the price down, and then what? You missed out big time. It's literally eat or get eaten here, especially with how the price wasn't able to hold up much longer around the $8000 level. The slippage as result of thin orderbooks is quite insane in crypto, so it's not that uncommon that whales will use an inflated price to cash out.

Currently we're yet again attempting to break through the same resistance, so it's going to be interesting to see if we will again face a massive dump.

It wasnt that they are selling but the way it was sold.  If they slow rolled their sells they would stand to make a lot more than the way they mass dumped into market buys clearing the book on the way down. 

If you bought like 5000BTC below $4000, how much of a moron are you if you can sell each coin for an average price of $6800?

Most of the people people would laugh in your face if you told them that the price would go over $6000 this soon. Morons are those who sell their coins below the price they bought them at. Making millions in profits in a fairly short period of time makes you a trader I would respect a lot. No hodl bs, just straight rational thinking and thus profit taking. 

I wouldn't categorically say that they are morons.

But they know what they're doing here. They know how to play the market and the emotions of investors, specially those who are very young at this market.

They can sell at whatever price they want and then probably buy more when the price dips. So if you don't know how to ride the waves then surely you will get drown and let a expensive lessons.

The more you have actually I think the less you would care about the fluctuations.  Its definately I worry I think I would embrace 

They know what they are doing and they also know their capability. Though manipulation will get hard for them but trying to attract panic sellers and get benefits from them. They played the market well and I'm not thinking that they are stupid also, in fact, they use this market to improve their lives and take advantage over panic sellers.

Whales are not stupid, their calculations are better than us, there are various reason why they sell the coin, maybe they already got the profit and maybe they hope they can create a panic sell and could buy cheaper again, its impossible the whales will sell that huge amount without any good calculation

Where more and more whales flow into the market they get competition as well and cant manipulate that easily anymore where they got different entries and exit points against each other.

They are smarter than us and they can manipulate the market if they want to.  Whales have that strategies and even more effective with side, they'll wanting more panic sellers cause they are the one who are greatly benefiting for this.  If we don't have trust with the market,  will simply near into becoming one of the panic seller.

Thats how market works Buddy! when they sell high prices with tons of bitcoin, then many people will panic and sell. prices fell then whales returned to re-buy, tell me where was the stupidity you saw? they are smarter than we imagine, sometimes it's hard to guess what their plans are. if we know what they are planning, maybe we can avoid losses and profits at the right time.

What about the futures market for Bitcoin, there must be some immense players on there who are willing to take out giant bets on the price falling because crypto is so alien to them and in their opinion worth nothing at all hence no risk to sell off massive amounts.     If we have leveraged players like that available it means they must rush to place the contract into the real exchange, perhaps placing it immediately is less dangerous to them then doing so carefully over a long time period


The more you have, the more there is to lose in being wrong.   I'm not sure I want that worry every time I go through the day or try to sleep knowing I bet BTC to go down so much.     I think crypto will defeat the whales eventually so long as its used by and is useful to the people around the world.   Global natural holding and use of BTC will create bigger waves then even a giant whale can swallow

Thanks for the clarification, but in the minds of the people, whales are usually smart, and those who are moving the market are smart whales since they can take advantage of their power by manipulating the price for their own interest.
If I am a whale, I would be alright to be called as dumb whale as long as I have the money to sell and satisfy my financial needs.
My satisfaction level is too low, I'll be happy with 1000 BTC, 

i don't trust things i "read online" and neither should you. for example in this case was it really one whale selling 3600 bitcoin or was it 3600 bitcoin sold in that period by traders tanking the price? there is a big difference here. looking at the charts it is a sharp drop but if you zoom in to minute intervals you can see that it is traders panic selling which is a normal thing specially when they are using bots with stop loss orders and watchers to execute them so when a drop happens below their threshold their bot kicks in and starts selling so the big drop shapes up sharp like this.

this was a manipulation though because it started by a whale(s?) selling down to that threshold to trigger the sharp drop so that their shorts could be filled. but the size was nowhere near 3600BTC from what i can see.

Why they do? Because they want more money even if they have huge amount of money which is enough to manipulate trillions market cap coins.

They can bring down the price for a while but when others reacting to it then that is their real success so they bag huge profits by buying them at low price.

It doesn't make sense to dump all those coins at once, especially on a very illiquid exchange like Bitstamp. They basically put in the best offer and kept changing the price as it went down, creating algo bots to sell on other exchanges which do arbitrage.

Most likely it was manipulation to liquidate the $200 million longs on Bitmex which seems a common thing to do because people usually over-leverage on that exchange.

They did an investigation and said that nothing deliberate was found however I don't belive its the entire story.