After reaching $ 30 thousand for BTC, the bitcoin rate is threatened with a fall

The CEO of deVere Group, one of the world’s largest financial advisory services providers, sold half of his Bitcoin holdings to lock in profits.

“I sold half of my Bitcoin assets as it hit an all-time high. Why? Because now it should be treated like any other investment. Sell ​​high and re-buy low when possible, ”said Nigel Green, CEO of the deVere Group.

He noted that institutions began to accumulate the cryptocurrency during its overcoming by the rate of the previous all-time high of about $ 20,000, writes ttrcoin.

According to CryptoQuant CEO Ki Yong Joo, the lack of whales with large volumes of Bitcoin for sale could clear the way for further growth.

According to the data aggregator of the cryptocurrency market CryptoQuant, in the past few days, fewer and fewer bitcoin whales with large stocks of assets are bringing BTC to cryptocurrency exchanges, writes.

Meanwhile, analyst Timothy Peterson believes that Bitcoin is in danger of falling if it reaches the round $ 30,000 mark.

The expert analyzed the movement of the cryptocurrency in 2012, 2014 and 2018 and came to the conclusion that 2021 could repeat the fate of previous market falls. Peterson used the Metcalfe model to form his pronose, which he periodically applied in the past.

At the same time, the analyst stressed that it is impossible to guarantee the strengthening of sales at this stage and the further collapse of the market. However, the risks of repeating the negative scenario still persist.

The analytical company Santiment also believes that BTC is approaching its peak values, after which the first cryptocurrency is waiting for a trend change. After a successful Christmas weekend, the activity of bitcoin addresses began to decline. This is a common trend that precedes bitcoin correction.

Mark Newton, founder and head of the investment company Newton Advisors and a trader with 20 years of experience, told CNBC that he was going to sell bitcoin within two weeks, and gave two reasons for its imminent decline.

The dynamics of the BTC rate is cyclical. Historically, if the fourth quarter was successful for cryptocurrency, then the next one began with a fall. Secondly, despite the strong demand for bitcoin among institutional investors, retail buyers still show little interest in it.

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