This is not free market behaviour.
Theres a mad "professor" dumping his bags. More than any buyer can absorb.
Theres a mad "professor" dumping his bags. More than any buyer can absorb.
There are many large holders from early years to whom $1000 per BTC represents a huge price.
They may have been confident before, but they might be inclined to sell 100,000's of BTC to avoid even a small chance of losing everything. That could be many billions of dollars that someone has to cough up.
There were huge sales at around $200 in 2015, and there is plenty more where that came from.
Balance will eventually be found, but the bottom is not yet predictable.
1000$ was huge! Many have been sucked into the price increase and thought it would continue...
See everyone lower