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Early 2017 Crypto Investors Are Rapidly Starting To Sell Bitcoin

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The CEO of a major crypto trading company Michael Moro reaches today’s crypto news for his opinion that early crypto investors that bought bitcoin in 2017 for the price of $1,000 are not starting to sell massively.

While speaking to The Block, Moro who provides investors access to block size liquidity in order to buy and sell cryptocurrencies explained that the large investors are now moving their funds for the first time now since bitcoin was just $1,000.

He said:

 “We are seeing the folks who bought in early 2017 sell for the first time today.’’

He added that the majority of the Bitcoin early investors that purchased Bitcoin in the first quarter of 2017 now believe that they are seeing zero return on their investment. As of today, November 20, the price of Bitcoin reached a new low again for a second time this week going down under the $4,753.

CryptoDog, a technical analyst explained the current bitcoin drop:

 “The bears aren’t even pushing, BTC is just free-falling. Very weak dump, imagine what it looks like when the volume comes in. A short-term reversal could happen at any moment – shorting with high leverage is a terrible idea. However, if you are trying to knife catch, be patient. No one should be in a rush to long this.’’

Despite the drop, BTC’s volume increased to $8 billion which as a more than 60 percent increase while expecting BTC to establish a bottom trend at $4 billion. This is one of the reasons why the investors who bought BTC at $1,000 are considering selling a huge part of their holdings fearing that another drop might be happening in the next few days.

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