According to me it's a really big player that have massive financial power, who tends to try to manipulate the market. My definition can be not be totally accurate, by this is something of this kind
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So it means whales is a player that has a massive financial power that can control the fluctuate of the price of the market? THats it?
Give other simple summary about a whales.
Yes that is basically it.
bitcoin whale: an individual or group of people who control a large amount of bitcoins in relation to the average user,
who by themselves or as this group, have "enough of the pot" to manipulate the price of bitcoin, either up or down in massive amounts.
As bitcoin's market cap rises, whales' effect on the market will become less noticeable.
A bitcoin whale's power is limited to the amount of bitcoins he/they control, but they can be killed off. (See the death of BearWhale in October 6, 2014).
Can you give a sample why the price running up by the whales?
My sample understanding why the price is still running up:
If the whales sell bitcoins for a lowered price. The price will be rise from bitstamp or any market places?
There are different scenarios.
If a whale has a lot of bitcoins and sells for a very low price, it is possible the market will sink, which can cause a crash.
The whale, at the bottom of the crash, then could buy back their bitcoins at a cheaper price.
If a whale has a lot of fiat and buys bitcoin slowly over time, it is possible the market will rise, which will cause a rallying.
The whale, at the top of the rally, then could sell all the newly bought coins at that higher price.
Either way, regular users of bitcoin can not do this, thus whales are powerful, and are called whales since they can make waves.
