Post
Topic
Board Bitcoin Discussion
Re: at binance from March, 12 up to now someone spent 600 mln usd to buy btc
by
chattingtut
on 11/04/2020, 22:38:05 UTC
source - data gathered from binance public API. they give info about trades, amounts.

just get this data and make simple calculations
delta = (amount of btc that was sold on exchange) -  (amount of btc that was bought on exchange)
this delta for this period = about 100 000 btc

but price at this time period was moved from 7300 down to 3900 and later up to 6800
so result price move is only about $500 per btc

so some groups of people take these btc and payed about 600 mln usd for them, and at result keep prices
I am very curious - what groups  could make this and why

You should rather focus on another question. Who supplied them with so many bitcoins? Are long term holders selling at these low prices?
Who could afford to sell this much for 6000 dollars when the price was at 10 thousand since January? Are so many investors selling at a loss?

as i see from charts - yes, many investors are selling