It has been nearly the greater part of 2019, and it is almost christmas. More recently, the markets of cryptocurrencies have been caught in a downward trend. But, with the whales crypto still lively, how could we be in the presence of a change in that trend?.
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Whales crypto in these months
Before we delve into the prospects in the short and medium term, it is valid to remember the path of the whales crypto during the last half of 2019. Without a doubt, this year has been quite peculiar in months such as July, September and October. In July, Bitcoin reached a ceiling of 12 thousand dollars, being the maximum recorded this year. However, after a few months we see the radical change that has had, since by the moment it is below US$ 8000. Also, during September we observed radical changes thanks to what happened with the futures of the Chicago Mercantile Exchange. Then, during October, still remained unsettled; but still much less than in September. At that time, the whales crypto opted many times to change their Bitcoin to stablecoins. Once started the recovery of Bitcoin in any way, they sold their stablecoins and returning to a pattern of accumulation of Bitcoin. In addition, during 2019 many times the whales crypto also sought to influence the market to the downside or to the upside, as outside, pouring or injecting liquidity to the market. To determine the trend of the moment, the notifications of Whale Alert were the best allies of many investors.
Other events
For his part, Tom Lee, a renowned analyst of the world crypto revealed that these alterations were influenced by specific factors. First, an increase in regulatory scrutiny on the cryptocurrencies in the wake of the problematic project Pound Facebook. Second, the criticism of the president of the united States, Donald Trump, to Bitcoin. Therefore, whales in crypto do not seem to be the first trigger of the ups and downs observed. In addition, this year has also witnessed tense moments on the world crypto. Hacks like the Bitstamp recently, the movements of a third of the funds of Bitcoin on Bittrex, among others. These had different effects on the price of the cryptocurrencies, but also in the actions of investors in the market, including the whales crypto. While the hacking was not as influential to Bitcoin if it was for Ethereum; and despite the fact that it was announced that the movements of Bittrex not made them a hacker, you can intuit that took many by surprise.
So, what can we expect from the whales in the near future?
Now, many analysts recognized the world crypto predict a sudden rise in prices, suggesting that 2020 could be a huge year for Bitcoin. Maybe, that could be the reason behind some transactions of the whales crypto, because since some days ago, has seen a slight increase in the acquisition of BTC. For example, the co-founder of Ethereum and creator of Cardano, Charles Hoskinson, said earlier this month: “we will see coins of $ 10,000 and will welcome you back to $ 100,000,“ without taking into account the suggestions that Bitcoin could be in decline at a time in which we speak of uncertainty and doubt. For the time being, the only possibility of a drastic change in the last few days of the month, is that it will start a bullish rally as the one that occurred in December 2013; and that therefore, the whales crypto decide to join. However, this seems unlikely, and by the moments it is expected that the great changes and movements to be generated in 2020. This may be supported also by the opinion of Lee, who is optimistic about the coming year, noting the flow of new money into the markets cryptocurrencies thanks to the decrease of the Bitcoins available, due in may, and the growing interest of China in the underlying technology of the Blockchain. What are the whales aware of this? The answer is probably yes. The following two tabs change content below. A degree in Liberal Studies from the Metropolitan University. Lover of innovation and a believer of the technology for the future.