jeudi, février 25, 2021
  • Our partners
  • Our team
  • Our editors
  • Contact
No Result
View All Result
rzo logo
Advertisement
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • RZO COIN
  • Shop
  • Magazine
    • All
    • Audio
    • Camera
    • Laptop
    • Smartphone

    Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

    National Academy of Sciences endorses embryonic engineering

    Jack Dorsey says he’ll continue running both Square and Twitter

    Fujifilm X-T2 review: The definition of a great camera

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    Trending Tags

    • Best iPhone 7 deals
    • Apple Watch 2
    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • iOS 10
    • iPhone 7
    • Sillicon Valley
    • Gaming

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      The Analogue Nt Mini is the perfect NES console for video game lovers

      GoPro’s Karma drone is back on sale after design flaw made them fall out of the sky

  • News

    National Academy of Sciences endorses embryonic engineering

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    Fujifilm X-T2 review: The definition of a great camera

    The Analogue Nt Mini is the perfect NES console for video game lovers

    Using a mind reading device, ‘locked-in’ patients told researchers they’re happy

    Watch Cruise’s self-driving Bolt EV navigate smoothly to SF’s Dolores Park

  • Formation
  • EBOOKS
  • Trading
    • eToro
  • EXCHANGES
    • BLOCKCHAIN
  • Security

    To regain advertiser trust, Facebook is tracking ads by the millisecond

    National Academy of Sciences endorses embryonic engineering

    Google has been asked to take down over a million websites

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    • Computers

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Fujifilm X-T2 review: The definition of a great camera

      Shopify CEO attempts to defend continued hosting of Breitbart’s online store

      SpaceX targets February 18 for Dragon resupply mission to ISS

    • Applications

      Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Jack Dorsey says he’ll continue running both Square and Twitter

  • 🇺🇸
    • 🇨🇭
    • 🇫🇷
    • 🇬🇧
    • 🇨🇦
    • 🇷🇺
  • Home
  • RZO COIN
  • Shop
  • Magazine
    • All
    • Audio
    • Camera
    • Laptop
    • Smartphone

    Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

    National Academy of Sciences endorses embryonic engineering

    Jack Dorsey says he’ll continue running both Square and Twitter

    Fujifilm X-T2 review: The definition of a great camera

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    Trending Tags

    • Best iPhone 7 deals
    • Apple Watch 2
    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • iOS 10
    • iPhone 7
    • Sillicon Valley
    • Gaming

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      The Analogue Nt Mini is the perfect NES console for video game lovers

      GoPro’s Karma drone is back on sale after design flaw made them fall out of the sky

  • News

    National Academy of Sciences endorses embryonic engineering

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    Fujifilm X-T2 review: The definition of a great camera

    The Analogue Nt Mini is the perfect NES console for video game lovers

    Using a mind reading device, ‘locked-in’ patients told researchers they’re happy

    Watch Cruise’s self-driving Bolt EV navigate smoothly to SF’s Dolores Park

  • Formation
  • EBOOKS
  • Trading
    • eToro
  • EXCHANGES
    • BLOCKCHAIN
  • Security

    To regain advertiser trust, Facebook is tracking ads by the millisecond

    National Academy of Sciences endorses embryonic engineering

    Google has been asked to take down over a million websites

    Watch Dogs 2 Update Coming This Week, Here’s What It Does

    The Warby Parker of hair color, Madison Reed, scores new funding and a CMO

    Shopify CEO attempts to defend continued hosting of Breitbart’s online store

    • Computers

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Fujifilm X-T2 review: The definition of a great camera

      Shopify CEO attempts to defend continued hosting of Breitbart’s online store

      SpaceX targets February 18 for Dragon resupply mission to ISS

    • Applications

      Apple Watch Series 2 Is Swimproof and Comes With Built-In GPS

      To regain advertiser trust, Facebook is tracking ads by the millisecond

      National Academy of Sciences endorses embryonic engineering

      Google has been asked to take down over a million websites

      Watch Dogs 2 Update Coming This Week, Here’s What It Does

      Jack Dorsey says he’ll continue running both Square and Twitter

  • 🇺🇸
    • 🇨🇭
    • 🇫🇷
    • 🇬🇧
    • 🇨🇦
    • 🇷🇺
RZO Magazine : Formation Ebooks Crypto univers
No Result
View All Result

Whales Sell Down Bitcoin Rally: Why This Is Fundamentally Bullish For Crypto

by
décembre 12, 2020
Whales Sell Down Bitcoin Rally: Why This Is Fundamentally Bullish For Crypto
Share on FacebookShare on Twitter



Bitcoin price is now below $18,000 and the distance from the all-time high set just weeks ago is increasing by the day. The incredible rally of 2020 might have now come to an end, with the tipping point caused by some of the largest cryptocurrency whales offloading their coins.

And while things are likely to turn bearish as a result in the short-term, the whale-driven selloff is ultimately bullish for Bitcoin in the long run. Here’s why.

Has The 2020 Bitcoin Boom Begun To Bust?

2020 has been the year of Bitcoin and cryptocurrencies. DeFi and Ethereum helped to bring some positive momentum back to the space, and then Bitcoin took over from there.

Once momentum got going, thanks to a powerful bounce on Black Thursday from below $4,000, resistance at $10,000 was taken out with ease. Once the key level was retested and successfully defended by bulls, FOMO began to unfold in the crypto market.

RELATED READING | FOUR FRIGHTENING FUD FILLED FACTORS BITCOIN INVESTORS SHOULD BEWARE OF

Major corporations like Square Inc. and MicroStrategy began disclosing their BTC holdings, just as PayPal announced support for the asset class. The two events coinciding triggered a seismic shift in market sentiment. At the same time, the digital gold narrative began to attract hedge funds who have been reallocating capital from the precious metal into crypto since.

But as new money comes in, the old whales who have long held BTC since 2017, the 2018 Bitcoin bottom, and potentially much longer before, are once again starting to sell. In fact, it was movement from some of the largest whales in Bitcoin that has turned the bullish trend bearish and sold down the recent rally.

Whales are selling as Bitcoin sets new highs | Source: BTCUSD on TradingView.com

Why Whales Selling Now Is Short-Term Bearish, Long-Term Bullish For Crypto

Whales get their name from their large capital size, which can potentially make a big splash and send waves crashing across the market. And that is exactly what took the steam out of the Q4 2020 Bitcoin rally.

According to data from Crypto Quant, 98% of the BTC moved recently was from the top ten whale wallets alone. Because of the size of these whales, it only took ten wallets to stop the bull trend in its tracks.

98% from the deposits are from the top 10 deposits. Right now, Whales are depositing heavily.

I’m expecting further downwards or choppy movement for the coming days.

cc: @cryptoquant_com pic.twitter.com/N8fGDhIFeD

— OneOfMany (@JA_Maartun) December 11, 2020

Whales selling and causing a shift in the trend could lead to extended downside until confidence rebuilds in the cryptocurrency and prices become more attractive once again. It is hard to imagine this as a bullish situation, but the largest whales selling BTC is a bullish blessing in disguise.

Bitcoin and cryptocurrencies were designed to be decentralized so that no party or actor could influence the network, but if the entities are large enough, they can absolutely influence the price. Satoshi also designed the tech to do away with wealth centralization, where the world’s wealthiest 1% are in command of more money than the remaining 99%.

RELATED READING | ALLIANZ CHIEF ECONOMIST WHO BOUGHT 2018 BOTTOM: I SOLD MY BITCOIN TODAY

Sadly, because of the way wealth works still, even Bitcoin – a fully decentralized network – doesn’t necessarily translate to decentralized wealth. The fact that just the top ten BTC wallets could have such a dramatic impact on pricing, means that the vision Satoshi had is still so far off.

However, because these whales are selling to eager buyers, and their holdings are diminishing, the centralized wealth in BTC is slowly becoming more widely distributed. If the BTC these whales are selling end up in the hands of institutions who are in it for the long haul, or holders who have yet to break after the rollercoaster ride they’ve been on, the selling pressure and impact of whales will eventually decrease.

Featured image from Deposit Photos, Charts from TradingView.com and CryptoQuant.com





Source link

Tags: BitcoinBullishcryptoFundamentallyRallySellWhales

Laisser un commentaire Annuler la réponse

Votre adresse de messagerie ne sera pas publiée. Les champs obligatoires sont indiqués avec *

Recommended.

‘Bypass’ Attack in Coldcard Bitcoin Wallet Could Trick Users Into Sending Incorrect Funds

‘Bypass’ Attack in Coldcard Bitcoin Wallet Could Trick Users Into Sending Incorrect Funds

novembre 26, 2020
Litecoin may be trying to pump into “deflating fundamentals” as price nears $60

Litecoin may be trying to pump into “deflating fundamentals” as price nears $60

novembre 20, 2020

Trending.

Developers Implicated in Alleged Smart Contract ‘Rug Pull’

Developers Implicated in Alleged Smart Contract ‘Rug Pull’

décembre 2, 2020
Bitcoin Chartists See Price Hitting $70,000 After Tesla Crypto Purchase

Bitcoin Chartists See Price Hitting $70,000 After Tesla Crypto Purchase

février 9, 2021
Multiple Analysts Look at $400,000 as Bitcoin’s Ultimate Bull Stop

Multiple Analysts Look at $400,000 as Bitcoin’s Ultimate Bull Stop

février 10, 2021
Bitcoin Eyes $20K-Breakout as Morgan Stanley Predicts Dollar Crash

Bitcoin Eyes $20K-Breakout as Morgan Stanley Predicts Dollar Crash

décembre 3, 2020

GoPro’s Karma drone is back on sale after design flaw made them fall out of the sky

octobre 19, 2020
RZO Magazine : Formation Ebooks Crypto univers

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Catégories

  • Apple
  • Applications
  • Audio
  • Camera
  • Computers
  • Gaming
  • Gear
  • Laptop
  • Microsoft
  • Photography
  • Review
  • Security
  • Smartphone
  • Uncategorized

Étiquettes

AllTime Analyst Analysts Apple Watch 2 Bank Best iPhone 7 deals Bitcoin Bitcoins Blockchain BTC Bull Bullish Buying Guides CEO CES 2017 Coinbase crypto Data DeFi Digital Ether Ethereum Exchange fund Heres high Highs Hit Hits investors iOS 10 iPhone 7 launch Market Mining Mover Options Playstation 4 Pro Price Rally Record Sillicon Valley Trading Wrap XRP

Recent News

Fractal From Last Bull Run Says Bitcoin Will Hit $100K By May

Fractal From Last Bull Run Says Bitcoin Will Hit $100K By May

février 25, 2021
On-chain analyst says Bitcoin in serious « supply and liquidity » crisis

$5 million worth of Bitcoin just moved for the first time since 2010

février 25, 2021
  • Our partners
  • Our team
  • Our editors
  • Contact

© 2020 All rights reserved RZO COIN Website created by Olivier Obé with Wordpress

No Result
View All Result
  • Home
  • Review
  • Apple
  • Applications
  • Computers
  • Gaming
  • Gear
    • Audio
    • Camera
    • Smartphone
  • Microsoft
  • Photography
  • Security

© 2020 All rights reserved RZO COIN Website created by Olivier Obé with Wordpress

en English
nl Dutchen Englishfr Frenchde Germanes Spanish