Early Bitcoin Whales Sold $30 BILLION to Speculators?
During the retail driven mania of December 2017 to April 2018, early Bitcoin investors (whales, OG's, whatever you want to call them), sold $30 BILLION dollars worth of Bitcoin to speculators, according to research from Chainanalysis. This actually increased the available trading supply of Bitcoin by over 50%, leading to the recent depression of the Bitcoin price, according to ChainAnalysis.
Let's talk about the research a bit further, a recent Ripple class action lawsuit and the general market movements.
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Interesting news....
2.3 million Bitcoin lost!? That is a staggering number! Ii makes sense but I guess I never thought about all of those accounts that have been lost or locked over the years!
I am shocked I haven't come across you page until now but I loved the TA! Looks like your videos will be added to my morning TA routine! haha
And personally I can't stand ripple... I understand that there has been good trade opportunities in the past but as a project...
Follow and an upvote from me! :)
thank you and appreciate the kind words.. The Chainanalysis research was pretty interesting for sure, and it's crazy to think how much Bitcoin is simply lost forever
Red sea will kill small fish .
This should not be too surprising as most wealth is created when entrepreneurs sell their stakes into the public market when valuations are best. Early believers did the same as prices skyrocketed. This makes sense as we have definitely seen weaker hands in the market since January as markets have dipped. However, fundamentals for long term usebof Bitcoin contin to prevail as store of value use could be key as investors seek protection from inflation and economic challenges in these traditional markets.
Yeah I agree it shouldn't really be shocking but interesting to see the data behind it. When Bitcoin essentially went from $1k to $20k, that's life changing wealth for many people I'm sure. Tough to not take profits there
I wrote a piece before also with regards to the BITCOIN futures being setting up to take the pricing power from daily traders to the banksters. It was all planned along to set up the futures market as a gig to push BTC from 10k to 20k and then crash it down afterwards.
And panic selling because of coinrail exchange hack
O que genial,amigo,gran post
That’s how it works, and guess what? https://steemit.com/cryptocurrency/@heyimsnuffles/crypto-carnage-is-imminent-20180610t190128430z-post#comments
So you are saying wait till all the rest of these retail "speculators" (that got in just to get in) sell out and bitcoin demand kind of bottoms out and then buy and HODL again? have you liquidated any of your holdings?