A whale has transferred 4,500 bitcoins, equivalent to $ 50 million, from its wallet to Bainance Exchange. No information is available on the identity of this whale and its intention to carry out this transaction.
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Possible reason is that he will sell it and it has a higher chance that he will sell it or he sold it already because Bitcoin is going low at this moment sitting at around $11.3k.
Another reason is that he will maybe join in an IEO that is being launched by Binance but that amount is very huge if he will invest all of it into one project only. Probably he will join multiple IEO's.
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Market analyst Josh Rager has a bearish view, believing that the price of bitcoin will fall below $ 10,000. He added that this price correction does not surprise him, as Bitcoin has a long history of recording 30% corrections.
Before he predicted it, it has been predicted by one of the technical analyst I've followed on Youtube saying that we can experience a short downturn of the price of Bitcoin to near the $10,000 or possible below $10k before we experience a major uptrend towards the $14k or $20k.
I agree with this prediction though and we are seeing it already happening as we saw a short decline in the price of Bitcoin.
May I know who is the technical analyst you are following on Youtube? So the TA is advising us to sold our BTC now and buy them back when price reach $10,000? Hope he is right so we get to double our money once BTC hits back to $20,000 USD.