Bitcoin is on a downfall from November with the price falling from over $6500 to $3250 in less than a month. Cryptocurrency analysts had already predicted that Bitcoin will fall around $2500 this year and might also fall down up to $1500. Amidst the market crash, large whales are trying to sell their holdings in order to prevent further losses. In the last 24 hours, around 7989 BTC were transferred to Bitfinex Exchange probably for selling. Here are the details of the transactions:
Transaction 1: 1627.596 BTC
https://www.blockchain.com/btc/tx/86c082a9151bcea1d5699aeae88294fec5367d957bd47bdd882bd9ff62fd6281
Transaction 2: 2022.774 BTC
https://www.blockchain.com/btc/tx/678f6c9586a1ba19d7fd93cae27a3269f30176e07aace0e7ec76cbdcaa448fa1
Transaction 3: 2192.11 BTC
https://www.blockchain.com/btc/tx/19074ce36f632ccc42e859fde1b5494ecb6ea1121e808d792cfceb7e2521f227
Transaction 4: 2146.353 BTC
https://www.blockchain.com/btc/tx/32279ff4564f146a27d788f3fa320b1939f728a7ee2c9ee75e91fd1b86a3b68f
The current market is in a bearish trend and Bitcoin is expected to fall below $3000 to extend losses according to analysts. However, the readers shall do their own research and analysis before investing and trading in any Cryptocurrencies or Digital Assets such as Bitcoin. The following article does not intend to provide any financial advice.
