Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Analyst Warns Bitcoin Whale Could Crash Crypto Market, Sending BTC, Ethereum, XRP and Altcoins Into a Spiral

by Daily Hodl Staff
November 6, 2019
in Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎

ADVERTISEMENT

The entrepreneur behind the crypto tracking platform Whale Alert says a single Bitcoin whale could crash the market, dragging down Ethereum, XRP and the entire altcoin market.

In a new interview with cryptocurrency prime dealer SFOX, Whale Alert points to one of the largest holders of BTC in existence, with a trove of 80,000 BTC, as an example of an investor that could crash the market.

“That address alone – if that is actually a whale who’s been holding their coins for so long without doing anything with them – if they decide, ‘Okay, let’s go sell them,’ it would crush the market completely.

ADVERTISEMENT

But it’s really hard to say anything about the status of that address: Are those keys lost? Is that person even still alive? It’s really hard to say anything about that, unfortunately: it’s just waiting to see if anything happens with those addresses.”

Whale Alert cites a whale who allegedly sold about $1 billion worth of Bitcoin in late August and early September of 2018 as an example of the impact a single large trader can have.

“On September 6th, when most of the bitcoins from the wallet were sold, the price of bitcoin fell almost 15%, while its 30-day rolling volatility increased by almost 25%.”

Despite the danger, there may be some good news on the horizon.

As the market matures, Whale Alert expects the number of big holders of BTC to dwindle as traders sell some of their crypto for fiat.

ADVERTISEMENT

In the long run, that could lead to a market with a much more fair distribution of Bitcoin.

“Eventually, those people will have to sell their coins, and more people are interested – more people are buying – and so, eventually, the distribution of BTC is going to hopefully level out a bit more, and there’s going to be, hopefully, fewer whales.”

The concentration of crypto in the hands of a few and the actions of big traders remains contentious.

A new controversial report that explores the impact of a lone whale on the cryptocurrency markets, attributing Bitcoin’s dramatic price action at the end of 2017 to a single trader, was recently debunked by industry insiders including Jeremy Allaire and eToro’s Mati Greenspan.

You can check out the full SFOX interview with Whale Alert here.

ADVERTISEMENT
Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • OpenDAX 3.0 With Exchange Liquidity Network (XLN) by Openware Goes Live
    March 6, 2021
  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$50,111.00
$50,111.00
3.17%
Ethereum
$1,660.77
$1,660.77
0.73%
Binance Coin
$234.38
$234.38
4.38%
Polkadot
$34.06
$34.06
2.53%
Cardano
$1.13
$1.13
1.5%
XRP
$0.462110
$0.462110
0.04%
ADVERTISEMENT

Spotlight

  • The Elon Effect – Companies Now Racing for a Piece of the Bitcoin Pie
    March 1, 2021
  • IRS Answers Critical Question on Bitcoin and Crypto Tax Reporting for US Citizens
    March 5, 2021
  • Top Analyst Predicts Massive XRP Breakout, Warns Major Bitcoin and Crypto Correction Coming First
    March 3, 2021
  • Jack Dorsey Using New Crypto Project to Sell His First Tweet
    March 7, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.