Why Bitcoin price could collapse very soon?
Bitcoin Whales can cause the bitcoin price to collapse just by simply selling a portion of the money, Bloomberg writes. This period is conducive to sales considering how much the price of a bitcoin has increased in the past month.
Bitcoin cryptocurrency is up 1,700% in the last 2 years – but state efforts to remove its anonymity will undermine its popularity and the price will drop.
Aaron Brown, former director of the market research Company AQR Capital Management states:
Moreover, Big Players in the game could organize to sell at the same time because many of them have long known and can work together to increase or decrease the market.
Alex Sunnaborg, co-founder of the Tetras Capital Fund, believes that 100 people hold 17.3% of all bitcoin "coins", and this is no different from other virtual coins like ethereum where 100 people would own 40% of the total.
Others believe that these investors would not want to sell now because they are confident in bitcoin currency and it's future potential.