“Pause” Bitcoin Does Not Intend to Sell at Current Prices

Bitcoin / 1 May, 2020

"Pause" Bitcoin Does Not Intend to Sell at Current Prices

“Pause” Bitcoin Does Not Intend to Sell at Current Prices – A “Whale” Bitcoin (BTC) of around 68,000 BTC or reaching 523 Million in US dollars, has not moved its assets for more than five years and data on the blockchain chain (on-chain) shows other whales are also using their BTC for an average an average of 4.7 years.

Bitcoin is the top cryptocurrency ranking on CoinMarketCap, a gap that requires digital assets without selling for years does not protect BTC from steep downward trends. On the last 12 Macs, prices dropped to $ 3,600 and many pauses did not move their funds at that time either.

However, the data shows that many whales are always used by BTC even though there is a significant correction problem for multi-year support areas at prices of $ 3,000 to $ 4,000. This requires an optimistic long-term trend in the cryptocurrency market and the patience of these investors is very high.

What Do “Whales” Really Want?
Since 2015, the infrastructure that supports the cryptocurrency market has increased exponentially. More and more custodian institutions are trusted to open a wider variety of futures users, and there are also those who provide large-scale places of reference supported by stable banking services.

Both retail and institutional investors are actively accumulating Bitcoin after intense correction. An analytic report published by Coinbase looking after dropping to $ 3,750 in March, retail investors immediately bought at declining prices.

Data from Grayscale’s first quartile 2020 report also show the reality in Bitcoin requests from investors who are in need and are under observation.

This is due to the fact that more investors are accumulating Bitcoin, the supply of BTC in circulation is also increasing and this can weaken the main downward trend in the market.

Over time, there is also an excess of the corrective phase becoming weaker and faster compiling Bitcoin to close to a fixed supply of 21 Million.

In addition, “whales” and others may see Bitcoin as the best asset to have in the long run. This is due to the fact that the data obtained can not be recovered or returned as before, the supply of coins will be closed, and half will increase the new supply phase available.

Researchers at CoinMetrics say:

“The Bitcoin Whale has only become eternal for 5 years in a row. Last week 68k BTC moved from active supply for 5 years, which shows the last time they moved on-chain was in April 2015. ”

The problem with the division that will take effect in less than 13 days, there is still BTC will experience a severe withdrawal regardless of the reluctance to stop selling its ownership. However, the optimism of this pause differs in color as an example of the fall of capitulation in the near future.

Also read: Whale Bitcoin: The World in its Biggest Economic Surprise

Is there a “True Price” that BTC will drop below $ 3,000?
In just 24 hours after Bitcoin fell to $ 3,600, prices rose again above $ 4,000, and finally returned to $ 7,000 in a one month period.

As reported by Cointelegraph, a sharp decline from $ 8,000 to $ 3,600 applies because of the liquidation cascade across all futures exchanges, typical of BitMEX. That way, traders are very much liquidation which actually triggers a decline, not the sale of “whales” at the trade place.

The movement of BTC workers also adds to the validity of the theory about BTC which never drops below $ 5,000 at all and investors who buy penuruna in the range of $ 3,000 to $ 4,000 are unlikely to be sold in the near future.