100%, not all whales are really successful in investing and in trading.
When we say whales, they are those who have big money risk in crypto, and they can sure move the market, however, they don't make a uniform decision, so some whales makes money while some whales also loss money.
People kinda believe that whales are those who are real successful here, but they can't generalize that because they are normal investors also, they have a profitable and a losing journey like us.
Correct. Whales have their own battles too. There are some whales that group themselves in order to move in uniform way but there is still no 100% guarantee of success. In forex big banks are the ones playing the market. There was a case before where the US government imposed heavy penalties on some big international banks for their connivance in playing the market. This is probably the same case with margin trade on crypto currencies.