Tracking bitcoin transactions made by whales is like being the paparazzi and taking photos of celebrities leaving their private residence.
It's very rude, and indecent just for making a few extra bucks.
Arguably, whale transactions are even dumber to track since they are usually not even trades, so actually the people tracking them and make a trade based on that end up losing money.
Respect people's privacy and don't spy on others' transactions.
Topic: Do you track bulk Bitcoin transactions being carried out by whales? - page 3. (Read 493 times)
November 02, 2023, 01:59:53 AM
November 02, 2023, 01:52:02 AM
Do you track bulk Bitcoin transactions being carried out by whales?
No!Quote
Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
Not really.Technically when large amount of bitcoin is transferred on-chain, it has absolutely no effects on bitcoin price. However, where those coins are going and/or what the FUD says about it can have a considerable effect.
You see, we can't know if a coin is moving to an exchange or not for sure and even if we did we still wouldn't be able to say if it is going there to be sold or not to affect the price.
But if enough FUD comes out that can affect the weak hands into making an irrational move (panic buy or panic sell) it could affect the price.
Honestly I don't remember any cases that a silly news like this (usually coming from whalealert and garbage groups like that) had any significant effects on the market.
November 02, 2023, 01:47:09 AM
Do you track bulk Bitcoin transactions being carried out by whales? Do you feel it has good impact on Bitcoin prices and a regular trader can benefit from this data.
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