Whales responsible for the present fall in Bitcoin price

[Josemendez]

Reports according to cointelegraph suggest that the present drop in the price of Bitcoin is attributed to the deposit of large amount of Bitcoin to exchange sites by Whales.

Just as we know , when supply exceeds demand , the price is greatly affected .
I believe the whales wants to withdraw their Bitcoin to fiat currency in order to gain much profit with the present rise in Bitcoin price.

 

[Niftyyem]

Well, we all knew this could have only happened with the whales involvement. They wanted to take their profit and possibly wait until the lowest it could go to invest again.

 

[ahmedo24]

This is very much possible though I still believe some Investors will quickly go to buy them also because they will see as an opportunity to invest for a rise.

 

[Josemendez]

This is very much possible though I still believe some Investors will quickly go to buy them also because they will see as an opportunity to invest for a rise.

The only people that will buy now are those that will be patient to wait for long term rising because the price is still between 17k to 16k

 

[ahmedo24]

The only people that will buy now are those that will be patient to wait for long term rising because the price is still between 17k to 16k

Yeah , I am still very optimistic it will rise back , I would have panic if it was only Bitcoin that dropped , recall ripple dropped close 15% in a day and it rising back gradually likewise ethereum.

 

[Bookwormlux]

Now I understand what really happened, but I am still of the belief that the price is still going to the rise, hopefully before this year ends.

 

[ahmedo24]

Now I understand what really happened, but I am still of the belief that the price is still going to the rise, hopefully before this year ends.

It will rise because obviously when paypal officially launched it operations more companies will invest as some companies may still be doubting PayPal involvement now

 

[Peterlight]

It will rise because obviously when paypal officially launched it operations more companies will invest as some companies may still be doubting PayPal involvement now

True talk but I am still not convince PayPal could actually have effect on bitcoin blockchain, but we just have to way to then, I just hope that bitcoin will not crash

 

[Suba]

Whales have different plans and thoughts from us,
Maybe this is one game they make us fear the price of bitcoin will drop drastically, so we will sell our Bitcoin, this is when they (whales) buy back their Bitcoin with a larger amount. and the price of Bitcoin will go up again.

 

[MastetG]

The problem is that the liquidity argument itself makes a case for whales exerting their influence on crypto prices. At the moment, crypto markets are worth roughly $252.7 billion. That’s a fraction of the multi-trillion dollar market for equities or even gold. It could be argued that thin liquidity volumes make cryptocurrency market price swings susceptible to large trades. Therefore, a retail trader with 10 BTC in their account wields less power to control prices as compared to an institutional trader or a whale with 1,000 BTC in their account.

 

[Naiwen]

Bitcoin shall rise again for sure. When an area deposits a large amount, it will drop for sure.

 

[giddy]

To be sure, a number of factors complicate proper assessment of whales on crypto markets.

For example, the ever-growing numbers for actors influencing crypto prices makes it difficult to identify a probable cause. Retail investors were the first ones to jump onto the crypto bandwagon, crypto exchanges followed soon after and have been joined by institutional investors, over-the-counter (OTC) trading firms and high-frequency trading outfits in recent times.