RE: Bitcoin (BTC) Morning Update: A New Fractal Emerges!!
So you really think such amounts of BTC (and such transactions in cryptos in general) are processed through market places?
When someone wants to buy a hugh amount of BTC (read hundreds of thousands at once), the transaction takes place off the market, directly between individuals or corporations. One does not simply go on Bitfinex and purchases 16000 bitcoins at once. That would not be interesting for neither the seller, nor the buyer.
This allows for a pre-set price transaction wherein both parties are winning.
By the way, as far as the person/corporation who got those 16,000 BTC, do you really think he/she/they're gonna sell them off right away, just when BTC's rising again?
Last but not least, 16,000 BTC is a drop of rain in the ocean. Just saying. That may move the price down from a couple hundred dollars, IF the owners wants to short the whole thing in one single transaction, but that's it.
Oh, and also: we've passed the symbolic bar of 17,000,000 BTC in circulating supply (out of 21,000,000). So again, may I ask what's 16,000 BTC ?
16,000 BTC is one one thousandth of 17,000,000 (Circulating BTC). Just sayin' because some people are extremely bad at math. Maybe they are the ones that think Bitcoin is going to $2,400???
I get your point, and I really think the same, but the FUD is enough to drop the price. and we know that it's not always rational.
but yeah, since everybody is so bullish, maybe we'll not feel the FUD :-)