“Bitcoin party” may end in disastrous for its participants


In February, crypto-whales launched a massive sell-off of the cryptocurrency, taking advantage of its numerous price records.

According to the report of the analytical company Glassnode, large Bitcoin holders (with assets from 1,000 BTC to 10,000 BTC) have sold about 140 thousand bitcoins for $ 6.72 billion since the beginning of this month.In January, they, on the contrary, bought more than 80 thousand BTC, coinspot writes.

It is this tactic of “crypto-whales” that could provoke a collapse of bitcoin to $ 45K this week, the researchers say.

Over the past two months, a different tactic has been followed by the “sharks”, whose addresses control from 100 to 1000 BTC. If last month they sold more than 95,000 coins, then in February they, on the contrary, purchased 117,000 BTC.

Researchers from the Glassnode team have identified another category of investors – these are “octopuses”, whose wallets contain from ten to one hundred coins. They have been selling cryptocurrency since November last year. In four months, this category of players sold more than 128,000 coins, earning $ 6.14 billion.

MicroStrategy on Wednesday announced the purchase of 19,452 bitcoins for $ 1.026 billion, which it raised last week on an overhead basis by selling interest-free convertible bonds.

“The company remains focused on two areas of its strategy: developing the enterprise analytics software business and buying and storing bitcoin,” said Michael Sailor, CEO of MicroStrategy.

Investments by Tesla and other big companies in Bitcoin have given rise to speculation that one day Warren Buffett, a longtime opponent of cryptocurrency, may change attitudes towards it. However, Berkshire Hathaway vice chairman Charles Munger announced that this will not happen.

Billionaire and follower of Warren Buffett’s methods in India, Rakesh Junjhunwala warned of a severe hangover after the bull rally of the first cryptocurrency. He is convinced that the “bitcoin party” will end miserably for its participants.

“At the moment, the market is full of optimism about a ‘healthy correction’, but in fact there are already references to the end of 2017 – early 2018, when several waves of decline and growth were nevertheless replaced by a wide trend reversal,” the FxPro team of analysts notes.

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