I don't think selling large amounts of bitcoin is necessary a bad think if you are looking long term.
If the whales start selling, It's bad for the price on the short term, but its great for bitcoin distribution.
In the end price will recover and there will gradually be less whales that can cause huge price swings by selling large amounts.

So in short. I don't mind whales dumping bitcoin, since I'm willing to HOLD for the long term.