Tuesday, November 24, 2020
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Bitcoin Crash Rumors Swirl: “Chances Are Some Whales Know Something That Is Not Yet Public”

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(blockcubed.com) The last several months have been an absolute bloodbath for Bitcoin, Ehtereum, Litecoin and hundreds of other cryptocurrency Alt Coins.

Experts have provided a wide array of reasons for the crash including regulatory headwinds, market distrust and a correction resulting from a price rise in 2017 that was too big and came too fast.

But one theory now circulating in the blockchain community is that some very big insiders may have gotten wind of coming news that the rest of the market is not yet privy to. And those insiders could be rapidly unloading their Bitcoins to seek safety in traditional currencies.

A number of crypto analysts and enthusiasts have weighed in on the possibility:

Ian Panchèvre@IanPanchevre

It really does feel like insiders know something that the rest of us will find out soon enough. No real catalyst in the news to trigger such a sell off. And yet people with deep pockets are dumping anyway. https://twitter.com/bitfinexed/status/979469486259691520 

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Joshua Zeidner@Joshua52438407
Replying to @IanPanchevre

Regulators warned them theyre coming in swinging

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Nancy Nakamoto@NancyNakamoto

People on cryptocurrency forums are starting to ask for more regulation. They now blame the “Whales” & manipulative banks for their woes more than “FUDsters”.

How long before they start asking for compensation and bailouts? @izakaminska @Nouriel @Bitfinexed @davidgerard

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But not everyone is convinced of a grand conspiracy involving insider knowledege:

kristof [knife catcher in the rye] 🔪@Triggeronomics
Replying to @IanPanchevre

It’s just TA driven. Bots playing algorithms probably.

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Satireoshi@satireoshi
Replying to @Bitfinexed

But the whales are buying more… Just check the wallets. People with money are buying. People who invested their loans and rent money are selling.

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Bruce Wayne@wayneblockchain
Replying to @Bitfinexed

It is sure that some whales are manipulating the price. But it’s also sure that 99.9% of people don’t use #bitcoin #cryptocurrency in general as a means of payment, but rather as speculation.

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Iain@7iain7
Replying to @Bitfinexed

to me this just looks similar to post mtgox crash charts.Price correction after bubble took about 14 months in total.

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guizmao@guizmao_gcr
Replying to @Bitfinexed

its a techinical move. the lack of fiat inflows and liquidity, plus no real utility for btc token are driving the price downward to 2017 first semester. Can you imagine what would happen if pathetic “hodlers” start to sell it? THERE IS NO FUNDAMENTALS!

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Ben Jarvis@ronmexicoisreal
Replying to @Bitfinexed

Sort’vre goes against the last tweet of people blaming magical whales…. my bet is a) everyone assumes tether is bad now combined with b) tax season has lots of people on the sideline which is creating momentum on the sell side

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To say big money whales have inside knowledge or are engaged in the down-ward manipulation of prices so they can acquire more before massive amounts of institutional money moves into the space would be speculation at this point.

While prices may continue to slide from here, with some analysts going so far as to predict sub-$5000 Bitcoin, others suggest that the recent drop in price could be an opportunity for long-term investors:

Crypto Bobby@crypto_bobby

When my YouTube comments say “get out now”, it’s probably time scale in.
When my YouTube comments say “I’m rich and buying a boat”, it’s probably time to scale out..
Right now, we’re at the former. pic.twitter.com/0omzQJidFu

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Earlier this week financial firm Morgan Stanley noted that the 70% declines are nothing out of the ordinary for cryptocurrency markets.

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