Bitcoin It has not been able to escape its downward trend since its ATH in March. While declines wear out investors Markus Thielen, founder of 10x Research explained the real reasons behind the declines.
At this point, Thielen said that whale sales and token unlocking transactions were behind the Bitcoin correction.
What Are the Reasons Behind Bitcoin Correction?
10x Research founder Markus Thielen said in a recent report that since March, Bitcoin price has faced corrections due to massive whale sales and massive token unlocks.
Thielen whale sales and token unlocks from stablecoins, spot Bitcoin ETFHe stated that it broke and balanced the upward trend coming from ‘s and futures leverage.
“Selling by early token holders and big whales has pressured the Bitcoin price since March, while strong inflows from tablecoins, spot Bitcoin ETFs, and increasing futures leverage have prevented steeper price declines.
“While this situation is unfortunate, the outlook for Bitcoin remains positive.”
What Events Could Have a Big Impact on Bitcoin?
Stating that he expects big movements in Bitcoin within 6 to 12 months, Thielen explained the events that could have a big impact on BTC.
“An increase in US economic growth is expected to have a significant impact on Bitcoin over the next 6 to 12 months as the Federal Reserve continues to cut interest rates due to low inflation and US corporate profits remain strong.”
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/analist-bitcoinde-mart-ayindan-bu-yana-devam-eden-dususlerin-asil-nedenini-acikladi-btcyi-etkileyecek-buyuk-olaylari-siraladi/
