Bitcoin may have a hard time recovering as Whales are moving their bitcoin to the exchanges

[BrolySSJ 7899]

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. 

[kyoukage01 3181]

The movement by whales whenever there is a bullrun is expected to happen. But unlike before (2017), there are now more experienced traders who can deal with whales in various ways, and hopefully we have fewer panic sellers now compared to before.

 

The questions now are how many of these whales are unscrupulous enough to flood the market without any care for the consequences and how the market will respond to such an onslaught. We will know the answers as a few more days and weeks passes during this bullrun period.

 

Edited November 30, 2020 by kyoukage01

[Whited35 15285]

3 minutes ago, kyoukage01 said:

The questions now are how many of these whales are unscrupulous enough to flood the market without any care for the consequences and how the market will respond to such an onslaught. We will know the answer as a few more days and weeks passes during this bullrun period.

@kyoukage01 Not only the whales that OP is talking about, in the recent days, we have been noticing some strange things in BTC market like sudden drop and raise once again to break the previous resistance. For the recent price raise, I think this NEWS from China has played a crucial role. More than 4 billion in crypto is seized by Chinese police !  Whales are moving the huge amount of Bitcoin on the exchange to cash out but bullrun may still continue because they will still wait the right time when the market follows the bullish trend. 

[Frodler 943]

These is true, but I as I have always pointed out in most of my post regarding whales, they can not control the value of a given cryptocurrency on a 100%, some times the functions of demand and supply makes determines the value and prices. 

[hani20980 2706]

I think the high demand for bitcoin will beat whales and the price will increase even if whales keep

selling their BTC in the market and maybe those who did sell will buy again in high prices for me

any price over 10k$ is okay because im not interesting in selling my bitcoin balance im only selling

the profits at any price

[kyoukage01 3181]

On 11/30/2020 at 11:50 AM, Whited35 said:

Not only the whales that OP is talking about, in the recent days, we have been noticing some strange things in BTC market like sudden drop and raise once again to break the previous resistance. For the recent price raise, I think this NEWS from China has played a crucial role. More than 4 billion in crypto is seized by Chinese police !  Whales are moving the huge amount of Bitcoin on the exchange to cash out but bullrun may still continue because they will still wait the right time when the market follows the bullish trend. 

About the linked news, that $4B worth of crypto seized is HUGE! I wouldn't be surprised if the Chinese authorities take drastic steps to liquidate the crypto they got as soon as possible to take advantage of the current BTC price.

Quote

"The Yancheng Intermediate People’s Court ruling said once the digital assets are processed as per existing national laws, they will be forfeited to the national treasury. However, it is not clear how exactly this process will be done."

- https://news.bitcoin.com/chinese-police-seize-4-2-billion-in-multiple-cryptocurrencies-from-plustoken-ponzi-clampdown/

LOL. If there is a massive dump tomorrow or one of these days, they may be the ones behind it all.

 

As for the current market situation with BTC, despite the fall in price the other day, not only it has managed to stop the fall, it has even risen to exceed the previous prices from a few days ago. Now it is almost close to touching the $20,000 mark.

 

[Whited35 15285]

8 minutes ago, kyoukage01 said:

LOL. If there is a massive dump tomorrow or one of these days, they may be the ones behind it all.

Lol 🤣 ! @kyoukage01 more likely a dump is on the way as I have also noticed it yesterday. You might check this recent post. 

I don't know, the key players behind it but price was dumped massively and immediately pumped. I guess a set of whales were already there to do so. Personally, I think Bitcoin should still face more obstacles to reach that $20K milestone, what do you think ? 

[kyoukage01 3181]

13 minutes ago, Whited35 said:

Personally, I think Bitcoin should still face more obstacles to reach that $20K milestone, what do you think ? 

Has nobody coined/invented this crypto proverb yet?

"When the bullrun begins, the whales come out to play." LOL.

 

Because I think now would be a great time for 'whale season' to begin and there may be many more pump and dumps coming along, and IMO that may prevent BTC from reaching the $20,000 mark or maintaining it for very long, at least for this year and the next. And that is one of the many obstacles Bitcoin will face, a legacy from the early days when Bitcoin was dirt cheap and in plenty of abundance. As long as huge whales exists, the threat of BTC suffering from a massive dump still lingers.

 

[Guru2050 8284]

Though it is believe by many bitcoin to hits $20'000 before the end of this year of crypto currency 2020 but seems to be difficult due to some external factors and whales effect which is capable of altering the price. But my view always is different and undiluted BTC will hits $20'000 with the support of bull run

[Jromz 2158]

I heard about this news earlier today, this might be pointing out that whales are getting ready to take some profits at levels around the $20K level by selling their BTC to retailers fomoing in at current high levels. Even though, this may inevitable lead to a significant correction, I believe the current bull run is much more sustainable than the one in 2017, as we now have important presence of institutional investors.

[Nicole018 4548]

I am sure many users had a panic situation when they came to know that the value of Bitcoins are decreasing. But it was just a correction as predicted by the experts. right now the value of coins are still on the right track as it is increasing and that's hope that by the end of this year it will reach its all time high of $20,000 and then it should be really profitable for the traders.

[Whited35 15285]

5 hours ago, kyoukage01 said:

Has nobody coined/invented this crypto proverb yet?

"When the bullrun begins, the whales come out to play." LOL.

 

@kyoukage01 Looking like whales are rolled out to cash out at the right time but BTC is still going up in its own pace. I will get surprised if I noticed ATH for BTC tonight because major exchange sites have started to exhibit rates $19700 very close to $20K mark. 

[kyoukage01 3181]

16 hours ago, Whited35 said:

@kyoukage01 Looking like whales are rolled out to cash out at the right time but BTC is still going up in its own pace. I will get surprised if I noticed ATH for BTC tonight because major exchange sites have started to exhibit rates $19700 very close to $20K mark. 

BTC just broke the ATH a few hours ago. I included a link to an article mentioning that event in the other post below.

And it looks like I was right about the comment above where BTC maintaining $20,000 won't last very long. That was merely intuition, as I have still a lot to learn (as you all may know).

21 hours ago, kyoukage01 said:

and IMO that may prevent BTC from reaching the $20,000 mark or maintaining it for very long

But what happened back there? Did another whale just stepped in to take advantage of $20,000 and BTC prices dropped as a result?

 

[Whited35 15285]

6 hours ago, kyoukage01 said:

But what happened back there? Did another whale just stepped in to take advantage of $20,000 and BTC prices dropped as a result?

Yes sell-off is still the key to create drop in BTC price. Whale or all small investors attempted to cash out at this situation because average psychology is, BTC price barely reach the $20K milestone so everyone should be waiting for the cash out by selling their holdings. 

[Moontong 5312]

The inflation of the value of bitcoin is caused by the post bitcoin halving and the presidential election in the USA. We all know that there are many bitcoin user in the country of USA so it gives big impact on it. 

[Barbarellah 2225]

Apart from the manipulation of the whales in these days, there have been some eventualities that have contributed to the fact that the price of Bitcoin has not yet reached $ 20K, we have seen more as despite the losses, it has now reached 19k, remaining somewhat stable in this average. The outlook this year is completely different from that of 2017, for which reaching its historical maximum and even surpassing it is a fact that will soon be consolidated.

[mohamedpc1 2213]

You have the right, thank you for presenting this wonderful information. Bitcoin currently wants to control and overcome the resistance, so the price drops for the sake of correction and returns to rise again, and for the big whales, it sells at the end of the year at a high price, so the price falls and then it repurchases at a low price as usual because Bitcoin always rises in the second half From the year it decreases in the first half of every year.

[Francisco87 651]

On 11/28/2020 at 2:12 AM, BrolySSJ said:

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. 

Hello friend, thank God the price of bitcoin did not collapse and it recovered again around 19k, yesterday it was in 19800 very close to the long-awaited 20k, I think that for now it will remain a bit stable...

[Syedbesharat 5423]

If this is going on then it's worrisome because the BTC is making breakthrough and the whales will manipulate rhe price of BTC and dump & pump .This will pull back BTC back and will bring BTC below $10K. If this will happen the Bull run will not occur and delay for some. Months as world is gonna enter in 2021 .The announcement of new projects will make the Bull run opportunity so make preparations for BTC fall down sudden. 

[Brandonsaw 1973]

If the whales still affect the price of bitcoin, what I see is that they always wait for the price of 19k dollars and sell their bitcoins and then the price goes down and they buy more bitcoins since if they do it at the price of 2pk dollars the price  It will go down quickly and it will not go back up quickly since everyone is waiting to sell their bitcoins when bitcoin reaches 20k dollars but that goal has not yet reached what is a good strategy right now for the whales that is what I think.

[pablomarwan 3082]

This possibility exists. When the whales begin to sell their assets, we will be harmed, as will new investors, and this will indicate that it will decline and penetrate the resistance price. But as you said in a previous topic, there are several places to monitor the movement of whales. And that we must think inspired. So when you see that they are selling, go with them in the current so that you avoid losing your turn.

[Sykkuno 2887]

Nice these whales were not needed anyway, they can sell their final Bitcoin and allow the market to proceed without them. Most of the early investors are out anyway and their manipulation ends as they sold most of their stack in March at the bottom, they have some more left and it will end with them selling the bottom of the new bull run.

[Sykkuno 2887]

The last correction could be coming from fear as there are reports that MtGox is planning to give back to customers the 150,000 Bitcoins it still holds.

22 hours ago, pablomarwan said:

This possibility exists. When the whales begin to sell their assets, we will be harmed, as will new investors, and this will indicate that it will decline and penetrate the resistance price. But as you said in a previous topic, there are several places to monitor the movement of whales. And that we must think inspired. So when you see that they are selling, go with them in the current so that you avoid losing your turn.

I think that there could be a bigger correction if these Bitcoins enter the market. The current whales might also be scared and there can be conditions for bigger dump.

* I am sorry for the double post, I thought the replies would be merged. I hope this doesn't make a problem.

Edited December 9, 2020 by Sykkuno

[Mella 3680]

I am see the chart is stop for some time and it has been in vertical or drop some times too. I am very confident with the price action so far and it is not changes anything to the chart. Depend on how you are trade of course as there are shorters that were expecting a drop to bellow 18000 and some that have big hopes for lower as 14000 but this is not going to happen as I am see the chart.

[abdullah553 1981]

On 11/28/2020 at 9:12 AM, BrolySSJ said:

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. 

The movement of the currencies of the whales is a warning to the decline or rise of the currencies. Tracking the currencies of the whales is really good and they can control the prices