Famous analyst explains the real reason for the decline!
A famous analyst explains the real reason that accelerated the Bitcoin correction. What different interpretation does the famous analyst make at this time when many comments are made?
Who are these responsible?
Chi Young Ju, CEO of on-chain analytics firm CryptoQuant, said that Bitcoin whales are accelerating Bitcoin’s correction. The analyst says that inflows have begun, which should be seen as a sign that hefty BTC holders are ready to sell.
Despite this pullback, Ju believes BTC will reach $100,000.
“Whales investing BTC in exchanges. It will undoubtedly hit $100,000 this year, but I think BTC will drop if we don’t see significant buying pressure from Coinbase Pro in the short term.. Per CryptoQuant’s Stock Whale Rate indicator, the level is currently over 85%, indicating a bearish scenario. A level below 85% indicates a bullish scenario.”
Ju adds that exits from Coinbase normally go to exchange vaults that hold crypto on behalf of investors. major outlets usually go to many cold wallets owned by Coinbase OTC desk. Pretty good hit rate. Over 10k BTC is a substantial amount. “
Giant record of 270,000 BTC from Bitcoin whales!
The crypto analyst also explains that the Coinbase premium is lower, revealing the gap between Bitcoin’s price on Coinbase and Binance.. “There is enough buying pressure to open a gap of $100 between BTCUSD on Coinbase and BTCUSDT on Binance.. This can only come from high net worth individuals and institutional investors.. “
Ju also argues that big investors are lowering the price to create a period of consolidation.
It seems that BTC sellers came from Coinbase. Coinbase Premium Index is a. ” negative value since one hour ago. Coinbase whales may want BTC to drop for consolidation”
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Are whales the father of BTC?
Appreciate what you have if you intend to become a Bitcoin whale. Because the amount of BTC you need to have to influence the markets in the future may be less than today.. So the more Bitcoin you have, the more king you will be.
About 10 years ago, a Bitcoin whale transferred 1 billion dollars worth of BTC in one transaction.. Isn’t that an incredible number? This transaction, made from an address that is not registered on any stock exchange, caused a great deal of speculation in the crypto market.. These whales, especially Bitcoin whales, have the power to change the course of the markets today, as they did in the past.. So, how much Bitcoin do we need to become a whale?
How many BTC do we need to become a Bitcoin whale?
According to Diar’s research last year, Only 1% of all investors with BTC wallets fall into this category. Because these whales own more than 55% of the Bitcoin supply circulating in the world crypto market and they manage the market as they wish.. This means that very few people have a big impact on the rise and fall of Bitcoin prices.
Please See!:1000 Whales Own 60% of Bitcoins
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A Reddit user, who shared on social media, claimed that the number of times required to become a Bitcoin whale varies according to time and conditions:
“ From this Having 10,000 Bitcoins 10 years ago wouldn’t have made you a whale. But having 1000 BTC now or even 100 BTC in the future can make you a whale. Who knows, even 10 BTC can make you king in the future!”
Some exaggerators claim that you only need 0.28 BTC to become a Bitcoin whale in the future.. But the truth is that your ability to move the market has nothing to do with the Dollar or BTC you have.. The crucial question is: What percentage of the total supply do you own?
Some also oppose this thesis.. Because according to them, your power to influence the market is determined by the total amount of liquidity in the markets, not the number of BTC you have.. Accordingly, if too many people hold BTC, liquidity will decrease, so it will have more impact on the market that has little BTC. not for the moment. How many Bitcoins do you think you should have to become a Whale? We welcome your comments.
British artist accepts payment in Bitcoin
A British artist has created a collection of 19 paintings with 490 Bitcoin
strong> announced that it was selling at the price. The current price of BTCs paid for the collection is $ 4.9 million.
Artist Lincoln Townley is famous for selling his artworks with Bitcoin. Selling the auction paintings of the artist living in London with Bitcoin is also a first in terms of the use of crypto payments in the field of art.
The news about the subject took place in the Evening Standard from the British press.. According to the news, an unnamed Singaporean businessman bought the collection of paintings by British artist Lincoln Townley.. The name of the collection is reported as “Greed”. It is recorded that the artist received 490 BTC, or approximately $4.9 million, for this collection of 19 paintings.
The artist’s work was to be exhibited at The Saatchi Gallery in London next month.. Plans changed after sale through Swiss agency. Now the collection will be exhibited at the gallery for just one day and this month.
The artist who sells online with Bitcoin
Townley is no stranger to getting paid for his work in Bitcoin. Townley is recognized as the first artist to officially sell his work in cryptocurrencies. In 2017, he sold his work “Homage to Francis Bolton” for 40 Bitcoins.. At the time of the sale, 40 BTC was worth about $640,000.
The seller is not only famous for accepting Bitcoins.. His fans include high-profile people like Michael Caine, Al Pacino, Sting, and Ronaldinho.. Other famous names were the subject of his works.. For example, Townley painted portraits of Kate Moss and David Bowie, who died a few years ago.. Also, in 2017, he sold a diamond-encrusted portrait of Princess Diana for a whopping $1.23 million.. An online auction was held in 2018, and payments were only accepted with cryptocurrencies.. The event took place over a weekend last year.
Townley believes unorthodox sales are more than innovations. He claims these essays could transform the art industry for good.. He said in 2018: “The best part of this situation is that it reinforces my belief that galleries play a secondary role in an artist’s success.. Galleries can remain a secondary and alternative source of sales. There are many ways to sell with technology.. ”
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