“Whales” began to sell Bitcoins, when the Price Reached $ 19,300

Image for post
Image for post

Kataryna Habeliia November 30, 2020

SHARE

“Whales” began to sell Bitcoins, when the price reached $ 19,300

The negative fall in the price of bitcoin was the result of the activation of large investors or so-called “crypto whales”.

As a reminder, BTC, after breaking above $ 19,000, unexpectedly fell below $ 17,000 at the end of last week. However, there was no more significant decline in the value of the digital currency.

Support intensified at a time when risks of a more significant pullback appeared. On the night of Monday, November 30, the bitcoin rate rose to $ 18,000 on the BitXmi crypto exchange.

Analysts from the Santiment team believe that “whales” holding 1,000 or more bitcoins have been the key drivers of the coin’s recent fall.

Their report says that 11 large investors sold their BTC, the end of the cryptocurrency was trading at $ 19,300. Having sold their coins, these “whales” left the camp of 1000 or more bitcoin holders.

IntoTheBlock analysts came to the same conclusion. According to their data published on Twitter, before the fall in the value of BTC, “whales” were sending large batches of cryptocurrency to exchanges.

As a result, 93,000 bitcoins were placed on centralized platforms. After that, a negative correction began on the crypto market, when, after BTC, almost all the largest altcoins suffered losses.

Read actual crypto news every day on https://news.bitxmi.com/

Join Bitxmi Exchange

Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi’s role is to inform the cryptocurrency and blockchain community about what’s going on in this space. Please do your own due diligence before making any investment. Bitxmi News won’t be responsible for any loss of funds.

Image for post
Image for post

Written by

🔗| Secure & Fast Crypto💰 Exchange🧮. ⚡| Low Trading & Withdrawal Fees. 🔥 |100+ Coins & 144+ Pairs.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store