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
Transaction 2: 2022.774 BTC
Transaction 3: 2192.11 BTC
Transaction 4: 2146.353 BTC
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.