Bitcoin | No TA but Reality Bite of Recent Event

Some TA are saying Head and Shoulder pattern, its gonna break down the trend, or oh no wait its forming elliot's wave its gonna shoot up, but wait RSI is still low, it has not taken bull trend. Worst case scenario its gonna hit 7.5k, if not then 2.5k , blah blah.

PS: Just a get a reality check, pattern or charts work when market has not been manipulated.

Yesterday's sell off doesn't represent market mood in any way and by now, you all might know , it was intentional sell off. Hence market has stabilized.

But before grasping above news , please ask this question by urself.
Why would anyone will dump 500 million worth of BTC , that too in one day?
He could have very well auctioned it or could have sold over a period of week if not month, he would have got much better return. 500 million USD roughtly translates to 60,000 BTC.

Now lets say, if he would have sold slowly he would have definetly made 1000 USD extra on each BTC, that converts to 60000*1000 = 600000 USD i.e.. more than half a million, its not small amount for anyone.

If he could have auctioned, he would have got more money.

Then Why sell off? and take a loss of near to 1 million USD. and more over why telling the market, "hey i sold 60k BTC"

Anybody sells the coin either to drive the price down or he knows price is going down.

In this case drive the price down. Many of you would have sold your coin now, by thinking and reading multiple TAs that BTC is crashing, it is bearish trend and blah blah. Lets exist now, we buy at dip.
This is where he would have bought all those coins, and his own coins also he nearly bought coins a million dollar cheaper, now thats a profit within a day.

Those who sold, no words, to them, those who held up with their coin , nice decision mate :)

This article represents only my view.

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KryptoTimes

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