Everybody who deals with cryptocurrency heard about Bitcoin whales, highly influential players in the market. Because of them a lot of investors do not purchase Bitcoin since they know that whales can impact the price. Chris Klein, co-founder of Bitcoin IRA, does not believe into be true.

According to the recent study by Chainalysis, there are 1600 Bitcoin whales who control Bitcoins worth 37,5 billion USD. It’s 1/3 of all the Bitcoins in the world.

Chris Klein sees this problem but he believes that the situation is goin to change soon. He states 3 main reasons why:

First Reason: Blockchain and Cryptocurrency awareness.

Blockchain used to be a mysterious thing that nobody knew about and had no idea how it worked. However, in 2018 this technology was implement in different areas and started to become well known.

Second Reason: Regulations.

2018 is a turning point for cryptocurrency regulation. SEC opens legal cases against fake ICOs and crooks, regulators and legal forces start controlling the market. It stops whales from shaking the market.

Third reason: New Institutions.

The whales do influence the market but in the long run their importance will go down due to cryptocurrency market evolution. The bigger the market the less power the whales have against it. Such companies as JP Morgan announced the development of its own blockchain, Nasdaq and cryptocurrency exchange Gemini are partnering up, Goldman Sachs is going to trade Bitcoin, all of that will tremendously impact the whales