Kirito (@indocukong) • Hey
Kirito (@indocukong) • Hey
Publications
- Buy the dip
- WHY IS BITCOIN DUMPING?
BTC recently dropped below $61,000,
making a new monthly low of $60.5K
Here are some of the major reasons
behind this BTC dump 👇
1) Mt. Gox distribution
Just a few hours ago, Bloomberg
reported that Mt. Gox had announced
plans to distribute 143K BTC to its
creditors starting in July.
This will add huge selling pressure on
BTC, and that's why the market is
dumping in panic.
2) Miners selling
In the month of June, miners selling
reached a yearly high.
Miners sold around 30K worth null.8B
in the first 3 weeks.
3) Huge ETF outflows
Since June 15, Bitcoin ETFs have
experienced nearly nullB in outflows.
It has experienced seven consecutive
trading days of outflow, and it still
seems like there could be more to
come.
4) The German government dump
Beside miners and ETFs, the German
government is also selling BTC.
It has sold over $200M worth of BTC
and still holds over $2.8B worth of it.
All of this has caused spot selling
along with massive forced
liquidations.
In the long run, BTC is still going to
$100K+, and you need to HODL your
bags; otherwise, you'll always buy high
and sell low.
- To the earth
- Gm guys
- Hello semua
- Hello