Re: Bitcoin’s Biggest Daily Price Drop In 7 Years ! Quote:
Originally Posted by phaz0rz The majority of bitcoin moving revolves around drugs. | The majority of bitcoin moving revolves around trading. You could watch whale alerts to see where the coins go instead of guessing. 99% of exchanges have KYC for withdrawing $10k (ie: 2 BTC per day) or larger transactions no matter what country your in. If a cartel was using Bitcoin to move money around... They should find a new CTO. Bitcoin is NOT anonymous.
The reason BTC had this price drop was from asset managers limiting their clients risk. Although bitcoiners look at bitcoin as a low risk asset long term, asset managers do not. In order to move their portfolios into low risk assets they closed their BTC positions which had a domino effect when price dropped closing others positions that were leveraged. Couple that with the average person scared to spend liquidity not knowing if they were going to have income coming in next month and miners selling to pay for power.
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Last edited by nate; 03-22-2020 at 11:51 AM.
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