Could a Potential Whale Extinction Be Good for Bitcoin?

[Shahinaz]

While one whale probably did not manipulate the 2017 Bitcoin price rally to its all-time high, it is reasonably accepted that whales do have the power to manipulate the nascent Bitcoin market. For this reason, Twitter account Whale Alert’s co-founder, Frank Weert, feels that Bitcoin could benefit from a whale extinction.

Weert is of the opinion that these whales still have enough sway to affect the market, but he is also hopeful that, in the years to come, that the distribution of Bitcoin will get better, and that could dissolve some of these big players, or at least lessen their impact on the market.

The future of Bitcoin, as an adopted and normalized investable asset, is currently hinged on its chances of becoming an ETF in the US. However, the SEC has continuously put its foot down in making this a reality citing market manipulation as one main reason.


More : https://beincrypto.com/could-a-potential-whale-extinction-be-good-for-bitcoin/

what do you think about this? let's discuss

[masterrex]

While one whale probably did not manipulate the 2017 Bitcoin price rally to its all-time high, it is reasonably accepted that whales do have the power to manipulate the nascent Bitcoin market. For this reason, Twitter account Whale Alert’s co-founder, Frank Weert, feels that Bitcoin could benefit from a whale extinction.

Weert is of the opinion that these whales still have enough sway to affect the market, but he is also hopeful that, in the years to come, that the distribution of Bitcoin will get better, and that could dissolve some of these big players, or at least lessen their impact on the market.

The future of Bitcoin, as an adopted and normalized investable asset, is currently hinged on its chances of becoming an ETF in the US. However, the SEC has continuously put its foot down in making this a reality citing market manipulation as one main reason.


More : https://beincrypto.com/could-a-potential-whale-extinction-be-good-for-bitcoin/

what do you think about this? let's discuss

I think whales has also important rules in keeping Bitcoin price stable, they keep pumping it. and that's what i know because if the whales will dump all of its bitcoin Holdings im sure the price of bitcoin will dip faster that we can never imagine. well that's only my opinion.

[alltalk]

~snip~ Frank Weert, feels that Bitcoin could benefit from a whale extinction.

A whale extinction will make Bitcoin price purely depends on the demand in the market. I am not really sure if the Bitcoin price can more stable in this way. But it seems to have good impacts on the value of Bitcoin, many people may have new spirit to trade or invest. Then, there may be an increase in demand for Bitcoin.

[Zed0X]

Weert is of the opinion that these whales still have enough sway to affect the market, but he is also hopeful that, in the years to come, that the distribution of Bitcoin will get better, and that could dissolve some of these big players, or at least lessen their impact on the market.

This will happen if another upcoming whale starts buying bitcoin at a rate that's suitable for that old whale. A more suitable or friendly regulation is the key here before more investors would come into crypto and help in the distribution of bitcoin.

[Nostoman]

If that happens then it would be great. Different big players will use bitcoin. Those who invest will benefit greatly. It would be great if you get the expansion in the UK. Different business organizations will want to invest. Then bitcoin will have a wonderful future.

[I-Bit]

If that happens then it would be great. Different big players will use bitcoin.

But how it can happen? I don't see a big chance for whale extinction. Manipulation made by whales is hard to avoid. It is not a single person but a group of people, I guess. So, I think the best approach is by knowing well about what whales usually do. And take advantage of it.

[Alcor]

We are unlikely to be able to see the situation so that the whales, that is, people who invested very large amounts of money in cryptocurrency, left this market. If this happens, it is unlikely that the cryptocurrency market will benefit from this. Rather, on the contrary, there will be a very sharp drop in this market. In many ways, the current cryptocurrency rests on financing whales in it. Yes, they can generally affect the state of the cryptocurrency market, causing its price swings. However, this is precisely what this market attracts investors to. The whales cannot harm the market, because in this case they will also lose as large investors. Therefore, in general, whales are even useful for the further development of the cryptocurrency market.

[Fenix]

In my opinion, if the whales leave this market, then the cryptocurrency market will definitely only lose from this. Large whales, this means primarily large investments in cryptocurrency. And in any case, there will always be people who will invest a lot of money in cryptocurrency. Does anyone want this to not happen? Then how will the cryptocurrency market develop? In addition, will we limit the sale of cryptocurrencies to one person? Is this with her anonymity? No, this idea is very bad for this market.