Large investors sold about 70 thousand bitcoins between September 6 and 9, and then switched to massive purchases of the cryptocurrency
Large holders of bitcoin (from 10 to 10 thousand digital coins) in the last three days have accumulated 60 thousand bitcoins ($2.8 billion at the current rate at 13:00 Moscow time on September 16), according to analytical company Santiment. During the three days of accumulation of cryptocurrency “whales” bitcoin value increased by 8%, to the current marks of $47.8 thousand.
Analysts note that between September 6 and 9, large holders got rid of 70 thousand bitcoins ($4.2 billion). During this period, the first cryptocurrency fell in price by almost 16%.
In the evening of September 7, bitcoin price fell by $8,500 in less than an hour. At that moment, the rate of the first cryptocurrency fell to $42,800 (a decrease of 16% per hour). Traders’ positions were liquidated for $3.5 billion because of a sharp collapse of quotations. During the day after the collapse, the capitalization of the market of digital assets decreased by more than $300 billion.
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The post was written by Crypto Expert John Belford
