Bitcoin tumbles 17% as doubts grow over valuations

Re:Bitcoin tumbles 17% as doubts grow over valuations by Bluestein on Tuesday February 23, 2021 @07:28AM (#26236518)

(Word is some "whale" [big holder] got the correction going by selling off some 150M+ at 58K, cashing out ...

I do not think valuations are in doubt - as much as they've ever been, at least ...)

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Re:Bitcoin tumbles 17% as doubts grow over valuations by Bluestein on Tuesday February 23, 2021 @08:43AM (#26237116)

Whiile I understand the downvotes, to clarify:

- None is saying this movement caused the drop. I'd be stupid to do so. Contributing factor ...

- This is clear: The number of "whale" wallets vs. smaller wallets has done nothing but increase.-

- Influx to exchanges have been outsized and abnormal large these past few days ...

... so, it would stand to reason that the market is more and more controlled and at the mercy of bigger players. Some speak of a massive "transfer of wealth" ...

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Re:Bitcoin tumbles 17% as doubts grow over valuations by me_me_me on Tuesday February 23, 2021 @08:46AM (#26237149)

BTC was growing way to fast over last week, large sales into buying dip is something that happen all the time.

Price will be back to the rough linear growth in 5days.

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Re:Bitcoin tumbles 17% as doubts grow over valuations by Bluestein on Tuesday February 23, 2021 @08:54AM (#26237215)

I think so too.

(However, the largest single day drop in BTC history must be pointing at something, and that cannot be ignored ...)

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Re:Bitcoin tumbles 17% as doubts grow over valuations by me_me_me on Tuesday February 23, 2021 @09:08AM (#26237374)

it is not largest, not even close.

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Re:Bitcoin tumbles 17% as doubts grow over valuations by Bluestein on Tuesday February 23, 2021 @09:23AM (#26237534)

Oh, I stand misinformed then, with apologies.

Am curious ...

(No the largest "single day drop", then ...)

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