While most of us watched declining BTC in distrust and despair, according to CryptoQuant data, many tears could be spared. The last drop in Bitcoin was predicted three days earlier. Here is the proof.
There was a lot of information about Bitcoin’s decline
If you look at the charts below, you can see the influx of BTC into all major exchanges. All values rose sharply around block 621.2 K – three full days before the actual decline. One possibility is that it was a coordinated movement that initiated a bulk sale.
Even experienced cryptocurrency traders and analysts, such as Josh Rager, a co-founder of Blookroots.com, said it was “unlikely” that the BTC would drop to $ 7,000. This was only a few hours before the 44% drop that could be predicted by monitoring BTC flows.
$BTC— Josh Rager ? (@Josh_Rager) March 12, 2020
The Trump effect is taking place on the market after his news conference
Bitcoin had a nice bounce in the $7500s, but it's very likely price makes it way down to the $7200s-$7300s before another hard bounce
I have bids staggered from the $7300s down to $7100s pic.twitter.com/wFcoIW6Iwc
Massive BTC movement
Strangely, this enormous BTC movements was not seen by more people just days before the decline. Maybe we were all busy dealing with coronavirus measures. If we have learned something about trading and investing in cryptocurrencies, it is that the large movements of BTC on stock exchanges usually signal an impending decline.
In addition, as you can see, this carefully organized movement has allowed the funds to take dramatic steps, allowing BTC prices to be consolidated. How did it end up?
Look at the flow of BTC funds into four major exchanges, each of which has seen a huge increase at the same time. Remember to keep an eye on block 621 K. The tributaries are almost exactly the same.
In the few days before the recent collapse in price, BTC inflows to exchanges increased. This can be taken as a signal that large holders were preparing to sell their coins. Signals like this can be taken as risk indicator, signaling to investors that volatility is incoming and to hedge properly.
In other words? Massive coordinated market manipulation by a bunch of whales. And the worst thing of all? We were all too busy looking everywhere else to notice.