Bitcoin and Ethereum Whales in Move after the Crypto-Market Decline

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Crypto markets hve seen today the fist price dump of the new year 2019.

Bitcoin price has declined by more than  9% in the last 24 hours going from $4000 to $3665 at the time of writing according to coinmarketcap as shown in the chart below.

Coin360 is mostly in red with barely any green spot visible.

This big volatility has seen a group of whales in movement.

Around $50 million in Bitcoin has moved in 4 transactions today, This could be an indicator that more selling pressure is coming as some of these transactions are movements toward exchanges.

Ethereum whales too are in movement with more than $15 million dollars in ethereum moved in 4 transactions. Also in this case 2 of the transactions are movements into exchanges signaling more selling pressure.

This is the second attempt bitcoin fails to go over $4200. The first attempt was on November 25

While many think that we hit the bottom at $3000 in December Pompiliano thinks that we have another dip before the bull run starts. However, despite the bad price-performance crypto adoption is growing.

Do you think we are going further down? Express your thoughts in the comments below.

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Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past.

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