1.1M noobs panic sell, but Bitcoin hodlers DGAF
Weak hands are panic selling, but long-term BTC holders have seen it all before. While new entrants to Bitcoin markets have been panic selling at a loss, the recent market slide has not vexed the old hands.Heavy selling in response to hints from Elon Musk that Tesla may soon sell its BTC stash saw Bitcoin prices tumble to their lowest levels in 20 weeks as the markets found support near $42,000 on Monday, May 17.According to on-chain analytics provider, Glassnode, the crash predominantly saw newer traders exiting from their positions at a loss while long-term hodlers stood their....
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Billionaire and crypto-asset supporter, Mark Cuban has identified bitcoin hodlers’ endurance as a model that stock investors can follow. According to the billionaire, after acquiring the asset at high prices back in 2017, the hodlers “held on because they believed in the asset.” Following in the Footsteps of BTC Hodlers These long term hodlers were unmoved even when the crypto asset lost more than two-thirds of its value after the 2017/18 bull run ended. Cuban’s remarks about BTC hodlers were in response to a request for advice to stock traders that incurred losses....
Cardano (ADA) has been experiencing struggling prices since it hit its all-time high above $3 back at the start of September. Since then, it has been on a downward trend and had fallen below $2 for the first time as October drew to a close. Despite some important announcements and strides on the part of the project, the token has not seen much recovery, leading to panic among its holders. In light of this, founder Charles Hoskinson once again took to YouTube to address those whom he thinks are too overly concerned about price rather than the technology. This will not be the first time that....
14 hours ago, users began reporting about the "biggest sell wall I've ever seen": a 31 000 bitcoin sell wall appeared mysteriously at 300 USD per bitcoin on Bitstamp. I must agree, this is the biggest sell wall I've ever seen. One thing that amazes me is how little the market has moved in those 14 hours since the Sell Wall of Death. 31 000 bitcoins is Now 15 000 bitcoins. Not only has the market refrained from panic selling below 300 USD per btc (where 275 USD became the lowest point), people are even chomping the Bitcoin sell wall. If you watch the order book and the live trades you can....
Will Craig Wight´s “I am Satoshi” claim cause people to panic sell their bitcoins? If he is Satoshi, then he controls a large supply of the total coins in existence and could sell them. The last two times in recent bitcoin history when there was a major news event, the price tanked and then recovered. It appears that until Wright moves some bitcoin that are from a block that Satoshi is known to control, people don´t care. At least they do not care enough to sell their bitcoin just yet. The price has been very flat compared to the reactions seen with the launch of XT and Mike Hearn´s....
Bitcoin has recorded multiple dips in recent weeks that have pushed its price below $60,000. The slump came as a result of sell-offs from investors who believe that the asset has reached its peak. Panic had spread like wildfire, triggering even more sell-offs but not everyone gave in. Whales have always been known to gobble up the bitcoins that small-time investors unload during periods of panic and this time has proven to be no different. While the broader market panic sold their holdings, bitcoin whales took advantage of the opportunity to pad up their holdings, snapping up billions in....