As i am looking at bitcoin chart now, BTC price just soared little bit in a short time.
It happened because of whale's move or not.
Btw, can anybody identify whale's move? If there is a way to see it, is there a tip for it?
Thx!
It's hard for BTC because price could be pump and dump without any news or anything because it's worldwide and new investors could come without noticable, but if low volume coins with nothing good news or and the price could go 10%, there might be whales are pumping it to make a trap.
Yes, lower volume coins are actually the targets of the whales as they can easily create bullish or bearish trap over those coins. New investors are the ones who get trapped in these traps and loose their money but the whales keep filling their pockets. Some group of extreme big whales might even play with the price of bitcoins if the amount they hold is larger than atleast 30% of the total volume.
This might give them huge benefits by creating bullish or bearish traps and a lot of investors might face loss in this. There are a lot of telegram bots which speculate each and every movement in the altcoin markets and keeps give us the latest updates so it is easy to predict the whale movements for those altcoins.