Analytics

2020 Is about to Close! Will BTC Whipsaw Occur at a High Price? – Dec. 29th

Analyst at Bexplus noticed that as the BTC growth rate expands to a high of $28,410, the price fluctuation space is as much as 9%. In fact, the adjustment of BTC always exists, but there is no significant retracement in terms of cumulative gains.


In terms of BTC, market makers who are holding and taking control of the positions is undoubtedly an important driving factor for price increases. Grayscale’s continuous increase in BTC holdings has also given investors a lot of confidence in the bullish currency holdings. However, institutions are not only buying or selling. Once the institution’s currency holdings reduce, it will in turn affect the confidence of cryptocurrency holders.

From the latest data, on December 28th, Grayscale lightened its position slightly by 134 BTC, and the reason was enough for investors to think about it. Whether BTC will meet a whipsaw at high prices is worthy of investors’ attention. In terms of the number of active addresses, the number of BTC’s on December 28th reached 1.14 million according to Glassnode’s data. This shows that during the price adjustment period, the signs of loosening of chip cashing are also more obvious. It is recommended to pay more attention to the signs of adjustment of BTC.

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  1. […] shows that the value reached 1.08 on December 28th according to Glassnode’s data, indicating that traders’ profit margins for short-term transaction transfers have reached a […]

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