The recent bitcoin correction down from its all-time high has had the market in a panic in the past week. However, not everyone has seen it as a bad omen. The digital asset’s price had gone down below $60,000 causing investors to believe the bear market had arrived. Mostly, small-time investors had been hit the most by panic as sell-offs happened through the space. Nevertheless, the correction was bound to happen following the incredible run that bitcoin had. Market corrections are always normal and expected after a bull rally but…
Day: November 26, 2021
Whales Fill Up On Bitcoin While Broader Market Panics
Bitcoin has recorded multiple dips in recent weeks that have pushed its price below $60,000. The slump came as a result of sell-offs from investors who believe that the asset has reached its peak. Panic had spread like wildfire, triggering even more sell-offs but not everyone gave in. Whales have always been known to gobble up the bitcoins that small-time investors unload during periods of panic and this time has proven to be no different. While the broader market panic sold their holdings, bitcoin whales took advantage of the opportunity…