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Who are the Bitcoin whales?



A Bitcoin Whale is one among such crypto lingos used in the Crypto space.

Taking a look at the potential dangers that can be caused by the Bitcoin whales

The cryptocurrencies were not very famous before the rise in the price of Bitcoin in the year 2017. After the realization of the potential of the cryptocurrencies many other cryptocurrency coins have been invented and also the cryptocurrency community has been expanded a lot.

The discussions which happen on various cryptocurrency forums require the usage of certain situations or conditions, which might not be understood without elaborating them, hence certain slangs are being used instead of using those complicated explanations for a seamless discussion on the forum.

A Bitcoin Whale is one among such crypto lingos used in the Crypto space. Some of the other slangs used in the Cryptocurrency world are Shitcoins, Altcoins, Hodl, shill, bull, bear, bull trap, etc.


The Bitcoin Whale

A Bitcoin Whale particularly refers to the investors which possess a huge amount of investments in the cryptocurrency space. Any transactions done by the cryptocurrency Whales impact the market price of that particular cryptocurrency by a larger margin than the transactions which are done by any other normal investors.

They are the investors which the cryptocurrency space is mostly worried because it somehow violates the core concept of the cryptocurrency space which is decentralization. According to some studies it has been found out that 40% of the total cryptocurrency market is owned only by 1000 huge investors.

It is also to be noted that the large institutional investors are into the cryptocurrency market form from their initial days itself. They have been holding onto the huge investments from the beginning itself and the situation is very dangerous because they can control the cryptocurrency market by collaborating with other such Whales. They can either prop the prices or tank it, at the same time according to their wish.


Bitcoin whales manipulate the market

In this particular situation, the regulators are also not very clear about the cryptocurrency space. It would be considered a fraud if the Whales manipulated the cryptocurrency market along with spreading rumors on various online forums. Bittrex, one of the most famous and biggest cryptocurrency exchange recently issued a circular to its users stating that the user’s account would be closed if many huge institutional investors collaborated with each other into ‘Pump groups’ with an intention to manipulate the cryptocurrency prices.

According to U.S. Securities and Exchange  Commission, the law which would be enforced in this matter would be different for different cryptocurrencies because each one of them is structured and is operated in a very unique way. On the other hand, some of the huge and early investors are sad by this decision because they feel that they are not being provided with the freedom to do anything they want with their money.

As the time passes by it would be a greater disadvantage for the smaller investors. According to report top 100 Bitcoin addresses held almost 17.3% of the Bitcoin share, the top 100 Ether addresses held almost 40% of the share, and as we move along the most recent cryptocurrency coins, the top 100 cryptocurrency addresses held almost 90% of the total share. This is certainly not a good situation and is more likely in becoming very similar to the traditional banking system which we had. This step seems to be backtracking to the traditional problems that were there with the banking and financial system.

Ironically the cryptocurrencies where initiated in order to solve this problem and now we observe that the cryptocurrency space itself is again shifting towards the same problem. Some of them even argue that this situation is very similar to that of the established markets such as equity deals where a large amount of investment is held by the founder and a few investors itself. Some of the experts even believe that the whales would not be a major problem to the cryptocurrency price fluctuations as many of them are happy in their huge investments in Bitcoin or any other cryptocurrencies.

Long story short, if we observe the situation from large holders perspective then it is obviously not illegal that they transact with their huge amounts of cryptocurrency because after all, it is there money. Bitcoin whales may or may not prove to be a threat to the small investors.


Mt Gox: Has the time come when Mt.Gox Creditors will be paid?



As reported by the Mt Gox trustee, They still have 141,000 BTC and 142,000 BCH and the trustee seems to be taking charge to return the funds to the victims.

The small cryptocurrency community back then was in shock when the biggest bitcoin exchange Mt Gox (at that time) was hacked and around 850,000 BTC were stolen which were worth around $450 million back then and around $3.4 billion according to today’s price. Years have passed since the incident, however, only a few the victims have received their share and most of them are still waiting for their lost funds.


Mt Gox to credit victims?

As reported by Nobuaki Kobayashi, the Mt Gox trustee, Mt Gox still has more than 141,000 Bitcoin and 142,000 Bitcoin Cash and the trustee seems to be taking charge to return the following funds to the victims. The victims were super excited to hear this and Twitter seems to be full of tweets claiming that the exchange has finally made its decision of returning the lost funds to the victims.

However, it is worth noting that Mt Gox might have more than $631 million worth of Bitcoin and Bitcoin Cash, the number of funds to be compensated are likely much more than this amount. The other documents on the website claim that the victims shall be sent a notification regarding the approval or disapproval of their claims based upon their type of filing (online or email).


Nobuaki Kobayashi said that after a few days, the Rehabilitation Trustee of Mt Gox will be announcing the results of the claims filed by the victims. The result will showcase whether or not their claims have been accepted.


Missed the deadline?

If you are one of the victims and you’ve somehow missed submitting your claim, you can still download the claim form from the Mt Gox website. However, if these claims made after the deadline shall be accepted for refunds will be decided by the court.


Is there any timeline for the claims?

According to Nobuaki Kobayashi. he will contact the victims soon. So there is no specific timeline as to when the funds will return to the victims. However, it is still great news for the people who have been waiting for over 5 years and they are surely happy about the fact that they will soon be compensated.


Cryptocurrency investors are now wondering how will this affect the bitcoin price? What do you think? Tell us in the comments section below.

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Cryptocurrency Price Analysis: Great Week for the top 10



The current week has proved to be quite amazing for the cryptocurrency market as all major coins are holding green. The total cryptocurrency market rose by around $1.5 billion yesterday night with the price of bitcoin reaching $4100.



BTCUSD Price Chart

BTC/USD Weekly Price Chart

Bitcoin broke the $4000 resistance level on 17th March and has been over this range since then. Bitcoin has turned the previous resistance into strong support now and has moved upwards slowly currently trading around $4120 (according to Bitfinex chart) with around 1% increase in the last 24 hours. If bitcoin is able to maintain its position above $4100 range for long, it might soon move ahead towards the major long term resistances such as $4500 and $4600.



ETHUSD Weekly Chart

ETH/USD Weekly Chart

Ethereum also saw a nice bullish momentum this week after reaching the highest point of $143. Currently, Ethereum is trading nicely around $140 and is experiencing a few dips while trying to move upwards.

Unlike other top 10 coins, Ripple market is experiencing volatility from the last week but the momentum is still quite bullish.

LTCUSD Weekly Chart

LTCUSD Weekly Chart

Litecoin has been following trends and is steadily trading around $60 from the start of the week. Litecoin has increased more than 1.67% in the last 24 hours which makes it the best performing crypto of the day (in comparison with the top 10 cryptos according to market capitalization). LTC is currently trading around $61 (according to Bitfinex chart).


The overall cryptocurrency market is in a bullish momentum with sings of further gains. After a long bearish trend, cryptocurrency analysts are now believing that the bull market might be coming soon.

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#Bitcoin Price Analysis

Bitcoin Price to $4500 soon? BTC Price Analysis



Bitcoin price moved above $4000 yesterday and currently trading around $4100. The buyers are trying again to break through the strong resistance at $4200.

Technical Indicators:

Support Level: $3900

Resistance Levels: $4100, $4200


Bitcoin Price Analysis:

On the hourly chart, bitcoin price has been quite bullish since last week when it reached a high point of $4160. However, bitcoin was not able to break through the resistance around this range. Again bitcoin started a bullish momentum on 18th March and reached up to $4120 before but started to correct downwards later. It went below $4000 support level.

Bitcoin price moved above $4000 yesterday and currently trading around $4100. The buyers are trying again to break through the strong resistance that is formed between $4100 and $4200. If the current resistance is broken, there are chances that bitcoin could spike up to $4500 in the short term. The current momentum surely signals a ‘buy’ time. However, if bitcoin is not able to break through this resistance for long, it could result in BTC price falling back below $4000 and even $3900 range and turn bearish.

BTCUSD Hourly Chart

BTCUSD Hourly Chart

Last week, bitcoin tested the $4200 resistance but failed to break through. The sellers pushed the price down to $3832. Later, buyers were able to start a fresh bullish momentum and moved the price above the 12-day exponential moving average which was turned into support. Bitcoin moved above $4000 and the buyers are currently moving ahead to fight the sellers at $4200 resistance level.

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