Bitcoin drops 5.5 percent in one fell swoop
Bitcoin plunged 5.5 percent in a straight line this morning. Is this the start of a major Bitcoin crash?
Bitcoin has been under pressure for months. At the beginning of June, the Bitcoin price dropped to a low point and since then the way up seems to have slowly but surely started again. Gradually, the share price climbed back about 6,000 euros.
This morning, three percent went off in one fell swoop. A huge drop in no time. Is This the Beginning of a Seriously Big Bitcoin Crash? Influencer and investor CryptoWhale warned the day before yesterday on Twitter about an upcoming crash of the crypto currency:
The best man (or woman, we actually have no idea) has over half a million followers on Twitter. So perhaps this CryptoWhale itself also influences the price, but its prediction does not come completely out of the blue.
Bitcoin crash
If the two lines he draws on the price come closer and closer together, this usually indicates an imminent price drop. The highs of the price are getting higher, but the wave movement is getting smaller. That signals an impending Bitcoin crash, according to the tweeter.
If the price develops in this way, buyers lose their grip on the market. Prices then only rise because buyers become more and more inactive. However, the sellers are ready to take back control and that eventually causes the CryptoWhale predicted crash.
The day before yesterday, not everyone seemed to agree with the investor and influencer, but with the Bitcoin price drop this morning, CryptoWhale could be right.
