Animals in the Crypto world
In the crypto community, you can be categorized as a type of animal depending on the amount you have of a cryptocurrency in your wallet. Being the whale for those who have the largest amounts, or on the contrary a small shrimp if you have less than 0.5. But in between, there are more animals.
Each one is used to mark trends or movements in the prices of Bitcoins and altcoins.
Below go some of the most common ones:
These are the wallets with the largest number of cryptocurrencies, these users can move significant sums of money in cryptos and cause variations in the market.
They are known as Whales because of the representation that we are all investors in a big ocean, where there are fish (all those who have cryptos) and whales (big investors). Usually, these have a minimum of 1000 BTC.
We will associate this animal with the bear market, which usually hibernates when it is cold and food is scarce.
In cryptocurrencies, this winter is when prices are low, an example is a current market in which we had a big fall.
Normally we associate the price drop of an asset with the action of bears on the market, which many times act influenced by external events.
When the fear of investing in the cryptocurrency market subsides and people start investing again, that’s when the bulls arrive.
Since the Bull figure is associated with the bull market because of the upward angle its body has with its head raised above its neck.
Bulls can tangibly encourage the prices of any asset.
In the crypto world, we are all an animal but it is up to each person to choose which of these we want to be based on our investor profile or the opportunities we can take. But the important thing is that we all start as shrimp so there is no need to be afraid to take that first big step into this world.
At The Blue Manakin, we want to help you on your journey in the world of cryptocurrencies and NFTs so don’t forget to check out our blog posts where we talk about different topics about this world and the latest trends.