However, these negative signs do not have to mean much to the bitcoin price. Last week, for example, several crypto analysts speculated that whales selling their positions could lead to a positive slowdown in price development, something that Cointelegraph wrote about at the time. When such large sales are made, it is often seen as a sign that the market is starting to get nervous and that a larger selling-off period may be imminent. Then a so-called “whale” (an address that contains vast amounts of bitcoin) chose to sell coins to the value of about $100 million – of which around a third came in the form of open futures contracts – something that was first noticed by “ CL“, another anonymous crypto analyst on Twitter.
4W9TJKRB3tĪnother negative sign for bitcoin appeared on Sunday. This can be seen as a sign that the positive price development is about to stop – or even turn down. On the night before Sunday, the cryptocurrency stopped following this curve. In short, this means that bitcoin has been following a U-shaped curve upwards for a couple of months. This may not sound particularly spectacular in itself – but the fact is that this drop meant that the price of the cryptocurrency broke the parabolic curve it has been in since September, something that was first noticed by the anonymous crypto analyst “ Altcoin Psycho” on Twitter. It was during the night towards Sunday CEST that the bitcoin price fell from a level of around $16,200 to $15,932.
Therefore, it is understandable if many bitcoin enthusiasts became worried when the price of the cryptocurrency over the weekend seemed to start falling. It has passed both $15,000 and $16,000, and experts have begun talking about an imminent bull market.
The bitcoin price has risen sharply in the last month.
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