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On-chain Activity Suggests Bitcoin Price Volatility Will Continue, Thanks to ‘Whales’
Summary: According to Coindesk, Bitcoin's volatility grew 8 percentage points in January to a high of 58.2%. Whale addresses increased from 2,000 to 2,030 marking a transition from "accumulation" phase to "wait and see" phase. Price swings show the cryptocurrency’s sharp rise from $4,100 to $5,100 on April 2019, reportedly created by an order of about ...
According to Coindesk, Bitcoin's volatility grew 8 percentage points in January to a high of 58.2%. Whale addresses increased from 2,000 to 2,030 marking a transition from "accumulation" phase to "wait and see" phase.
Price swings show the cryptocurrency’s sharp rise from $4,100 to $5,100 on April 2019, reportedly created by an order of about $100 million spread, throughout three exchanges. HODLers also influence the coins liquidity and volatility, if they were to exit the accumulation phase and if whales continued to buy coins, the supply and demand imbalance could become worse.
By Claudia Rivera
Tags: Bitcoin,Connor Abendschein,Digital Assets Data,Gabor Gurbacs,HODL,Kraken,VanEck,Volatility
Link: On-chain Activity Suggests Bitcoin Price Volatility Will Continue, Thanks to ‘Whales’ [Copy]
