There must be a handful of crypto investors who are panicking to see the market is declining badly!
Based on data by Bybt, today alone over $ 2.4 billion of Bitcoin, Ethereum (ETH), XRP and other cryptocurrencies have been liquidated in exchange.
It was recorded after BTC slipped to a daily low of $ 32,850 around 11am local time.
Following this phenomenon, crypto analyst and investor Lark Davis warns the entire crypto community not to get caught up in the crypto whales when Bitcoin (BTC) drops to $ 35,000.
According to Davis, at present the big holders of Bitcoin are taking advantage of the depreciation of the crypto king and hope retail investors sell their BTC.
"Rich and powerful players cleverly manipulate the market. When the market falls, they will seize Bitcoin when you panic selling at a 10% decline. And prices will skyrocket and the same thing will happen again. ” he said.
Bitcoin has declined by 30% or more in 2017 on its way to an all-time high (ATH) of $ 20,000.
Currently the king of cryptocurrencies is recording volatile prices, inviting various reactions among analysts.
Currently BTC is trading at $ 35,409, down 15% from the ATH $ 42,000 recorded last Friday.
