Elon Musk is a prime example of a crypto market whale. He kept disclosed possible coins in his portfolio and activated the buy option whenever he anticipated incoming news for either positive or negative market movement. Whales are the leading buyers and investors in a possible coin, which might be bitcoin or an altcoin in the sector; they regulate volatility by holding many trading positions in the market. It is usually suggested to follow the trade mark of these top whales, as this is the only way to earn an excessive amount of money with cryptocurrencies?
So far Elon Musk has not been a very effective example if you look at what it has done, Twitter is a good example. I don't think he's a financial management genius.
Apart from that, do you think the whales would be better off revealing their real strategy to everyone? Couldn't sending false buy and sell signals be part of their own strategy? In that case, the small investors will be the ones who will be harmed and who will allow the whales to make their money, right?
Personally, I think that being influenced by any outside source is too risky, I prefer my DCA strategy and continue mining. It works well for me. Whenever I wanted to follow trends, or to daily trade, it ended pretty badly for me. IMO te best way to earn good amount of money, is to DCA between the bull runs, and to wait patiently
