Whale’s accumulating Bitcoin during the dip while the Average investor panic sells

Vinod Dsouza
Bitcoin BTC Whale
Source: Pixabay

The cryptocurrency market faced a bloodbath after Bitcoin plunged to $35,000 levels that dragged other tokens to dangerous lows. Though BTC is trading in the green today, the market is yet to stabilize and the situation is grim. The crash caused a domino effect of panic selling as investors sold their holdings in fear of a further slump.

However, while investors are jumping ship to protect their holdings, whales are making the most out of the dips. A Twitter user named CC15 Capital shared transaction details on how individual whales are on a Bitcoin buying spree. The whales are steadily adding BTC to their portfolio for the last three days while the average investors are selling.

“Stop panic selling your #Bitcoin to this guy. He’s been buying $2-18 million worth every few hours,” tweeted CC15 Capital. Further reports show that another whale is accumulating large amounts of Bitcoins during every dip since August 2021.

“Here’s another #Bitcoin accumulator, buying 30x per day. From $0 in August 2021 to over $1 Billion in $BTC. Don’t sell your coins to this guy! Buy, #DCA and $HODL,” the tweet read.

Whales are plush with disposable income and can afford to blindly buy the dips. On the other hand, the average investor is struggling to save his/her portfolio from further beating. Even buying the dip is a challenge to the average Joe as there are chances it could slump further in the coming days.

2022 started off on the back foot as both the stock and crypto market shed most of their 2021 gains. The global economy is impacted by the latest Covid-19 Omicron variant and there’s financial uncertainty all around the globe. While an average investor kept his/her hopes to make it big in life with cryptos, that dream is slowly being washed away.

Will Bitcoin Further Slump in Price?

The economy around the world is in turmoil and filled with uncertainties. Many financial analysts, including Bitcoin proponent Mike Novogratz, had predicted days in advance that the market could face a sharp decline. “Tens, bonds breaking down. As long as rates go higher we will see pressure on Nasdaq and crypto. 2% seems a logical target for tens,” he tweeted.

Mike also tweeted that we’ve entered the bear market and warned investors not to blindly buy the dips. He also revealed that people will find it hard to be a crypto investor in 2022.

“The Russel index broke a major support and today’s rollover confirmed it’s broken. This is now a bear market. There is 1.2tr of bad equity longs above the market. Sell rallies. Don’t buy dips,” he tweeted.

At press time, Bitcoin was trading at $35,902 and is down +1.9% in the 24-hours day trade.