Search the Community

The price of bitcoin has been going down recently, and in order for us to bee able to make the right trades and to make back some of the money that you we may have lost in the recent days, we have to become of whale movements. Whales are those that own a considerable amount of bitcoin, and therefore since bitcoin is dependent on the supply and demand of the coin, these whales have a very large impact on the value of crypto currencies. Using an advanced crypto tracker, a whale alert was issued and posted in an article just under an hour ago, where someone has moved just over 22.8k BTC, equation to roughly $385 million. This move in BTC however was not in any way to sell the coin. Instead, it seems that this move was likely to secure the coins, once again showing the high demand for bitcoin. It is articles such as this one that show that there is a chance that bitcoin price could rise again, as this movement could be an indication that there are buying pressures at work over here as well. if anything, this movement can be considered to be in line with the bull market, and if this continues we may see market recovery. However, as I have said in other posts that i have made, bitcoin and other cryptocurrency is very volatile and there is no guarantee when predicting their price. All we can do is look at the news and make our own speculations.

Recently the price of bitcoin was on track to reach the peak price seen in December of 2017, however this was short-lived as the currency plummeted over $2000 in a single day. as with many, it is believed that the price of bitcoin will recover and that this was just a correction to the market before the bull market continues. I myself have seen many articles that suggest this as well and I too believe that this could be the case. However, a recent article says that bitcoin may not be able to recover from this drop in price. Based on the recent analysis that was conducted by the crypto analysts at CryptoQuant, it seems that whales have been moving their bitcoin into the exchanges. Based on the past behavior of the whales, it seems that moving the bitcoin into exchanges either results in the price being constant, a sideways trend, or that the price will drop rapidly as they start to trade and sell off their bitcoin. Therefore crypto analysts are saying that we may not be out of the woods yet and it is likely that bitcoin price may drop even further. The bitcoin support is at $15789 and if the price goes below that at any point it could mean trouble for bitcoin value and those that are investing now. What do you think about this huge whale movement of bitcoin to the exchanges? Perhaps now will be a good time to sell your bitcoin and invest in a more stable coin, in the event that these whales start to sell of their crypto assets in the coming weeks.