About us
Whales are the biggest creatures in the Oceans, and it’s no different in the cryptocurrency sphere. The label applies to people or entities that hold or hodl the largest amount of crypto. A Bitcoin whale usually refers to a single wallet address with over 1000 BTC. However, people owning large amounts of other cryptocurrencies can be referred to with the more general term “crypto whale”.
There are many trading maneuvers whales use to profit, like using a trading tactic commonly called the ’rinse and repeat cycle.’ The rinse trade is used in many types of markets and can be effective if timed correctly and very profitable if you are a bitcoin whale. The trader with a lot of holdings starts selling bitcoins lower than the market rate which at times can cause a panic sell off by small-time traders. The trick is the whale sold just below the current market value and just enough to watch panic ensue. Then the whale waits and watches the panic selling take place until the bitcoin price reaches a new low. At this point, the whales quickly scoop up way more bitcoins than they first started with and after the ‘rinse’ they usually ‘repeat’ this type of trade often. People speculate that there are many ways whales can throw their ‘BTC weight’ around to either push the price up or down to accumulate more bitcoins. Further, whales are not just individuals and can be an organization like a bitcoin investment fund as well.
The value of crypto coins is determined by and large through supply and demand. Meaning, if a large portion of the supply of a particular coin is held out of circulation, this drives up the price of the coins left in circulation. It follows that if a large number of coins are suddenly liquidated, the value of those coins will drop. Because of this, tiptopvision.com have the unique ability to essentially manipulate the crypto market for their benefit.
