Sub $30K Bitcoin price sell-off would require panic ‘to a large degree’
Market analysis suggests that for Bitcoin to start knocking on the door of a sub $30,000 Bitcoin, sellers would “need to panic out to a large degree.” Order books, essentially the list of orders that a trading outlet implements to show the interest of buyers and sellers, show considerable buyer interest in the $30,000 region on large exchanges Coinbase and Binance.There is 5,000 Bitcoin sat ready to purchase down to a $30,000 price, and another 7,000 BTC down to a $28,000 price on Binance. The sell-off may not be over, but Bitcoin (BTC) buyers can take solace in the knowledge that order....
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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....
I am sure you noticed within the last couple of days the value of a bitcoin has dropped by about 20%. If you look for some news that can somehow be correlated with this, you aren’t likely to find such a clear indication for this event. Fear…; Usually when bitcoins price falls so dramatically, it causes others to panic and sell off their bitcoins even though there may be no apparent reason for such a price swing. If it was a whale, although unlikely, you would have to consider the motivations for placing a large sell orders on exchanges. Placing large sell lots of bitcoins on exchanges is....
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....
It is a widely acknowledged fact that many blockchains require large amounts of electricity to operate securely. This downside is primarily associated with blockchains that use the proof-of-work (PoW) consensus mechanism — since they require large networks of power-hungry cryptocurrency mining rigs to work together to ward off attacks. According to current estimates, the Bitcoin […]
Bitcoin price may have nosedived to $21,000 but this analyst says it’s not an entirely bad thing. Willy Woo, on-chain expert analyst says that Bitcoin’s recent decline to $21,000 is mostly due to the massive sell-off by traders. However, there’s no reason to hit the panic button because the sell-off is linked to negative net […]