20000 pieces of Bitcoin wreck the market sounds annoying

[OasisDre]

It sounds very bad to hear that 12000 pieces of Bitcoin can wreak havoc of Bitcoin value, I wonder what will happen if a whale decide to sell 100k of Bitcoin someday, Bitcoin max supply is 21million right? If 12000 can bring this damage then Bitcoin is just like every other coins

[Akiko]

It sounds very bad to hear that 12000 pieces of Bitcoin can wreak havoc of Bitcoin value, I wonder what will happen if a whale decide to sell 100k of Bitcoin someday, Bitcoin max supply is 21million right? If 12000 can bring this damage then Bitcoin is just like every other coins

its simple the price will go down if they sell a large portion of his holdings.
 If you are asking how deep it should be then its depends on the buyorder in that time and how many people will believe that the sell off is just temporary and they will set a buy orders.

[JeotQ]

Honestly I'm shocked as well that small pieces of Bitcoin can actually drive down it's price like that and I expect many to buy the orders in instant, anyways let's just wait it out, moreover it's all about waiting game in crypto space, Bitcoin will recover

[Saisher]

It sounds very bad to hear that 12000 pieces of Bitcoin can wreak havoc of Bitcoin value, I wonder what will happen if a whale decide to sell 100k of Bitcoin someday, Bitcoin max supply is 21million right? If 12000 can bring this damage then Bitcoin is just like every other coins

I don't know what damage that will be done, but whales will buy it, if whales dump then it's whales and those who wants to be whales will buy all these dumps, Bitcoin is a long term profitability a short term dump will have no long term effect, so just buy while they dump and make a profit in the future.

[fudster]

It would take more than 12k of BTC to bring the price this low but because the news about corona virus and the market blownout like its overbought, the dump is inevitable and that its almost like a plan to pull the price down. When this is actually just a normal market reaction. Right now the market is almost is oversold but it would be better to finally drop the price to 7300 for good and that we can pump again.

[Little Mouse]

Don't see it as 12000 BTC only. See the fiat value of 12000 BTC, it is $100m and that's not a small amount of money. Calculate it against the total marketcap of Bitcoin. Right now, 100k BTC can destroy the market, that is true but that bearish moment will not last longer. If the current price dump is from the 12000 BTC dump, this will also not last longer and soon will recover.

[JeotQ]

Don't see it as 12000 BTC only. See the fiat value of 12000 BTC, it is $100m and that's not a small amount of money. Calculate it against the total marketcap of Bitcoin. Right now, 100k BTC can destroy the market, that is true but that bearish moment will not last longer. If the current price dump is from the 12000 BTC dump, this will also not last longer and soon will recover.

Is it not about if there are buyers who are already waiting to buy the coin? It's Bitcoin we are talking about here, it has the biggest volume and highest liquidity, anyways I expect recovery very soon because buyers should be able to take advantage of the price loss already

[betty11]

No one is restricting anyone from selling their bitcoin and for any amount. If the price goes down, it's an avenue for the late comers to bitcoin to quickly buy.  But t some persons won't see wisdom to buy bitcoin  now until it hits $20k again and they will FOMO into the market.

[mersal]

It sounds very bad to hear that 12000 pieces of Bitcoin can wreak havoc of Bitcoin value, I wonder what will happen if a whale decide to sell 100k of Bitcoin someday, Bitcoin max supply is 21million right? If 12000 can bring this damage then Bitcoin is just like every other coins

I don't know where you get 12,000BTC is enough to bring down the prices completely.It may create impact on the prices but definitely not going to last long because one who wants to bring down the prices need to sell hit bitcoin for extremely low prices so he is the one going to be in loss first and if a whale is doing this means he will buy back those bitcoins cheaper than the price what he sold and again the price will increase.

Nothing to worry its just normal scenario of crypto market.

[ned.ryerson]

if this happens we will see a very red market. most likely, after such a sale, an even stronger bear market may occur than we saw in the last two years. people are already very tired of this and if this happens again it is possible that the market will be no longer interesting for people and traders

[jossiel]

Then it will be more than the effect that we have experienced from the sold 12k BTC. It is a lot more so the expected damage will be higher compare to what we've seen.

But, do you think that there will be a complete sell off with that huge amount? unless a whale decided to have his own exit out of this market. And I cannot see that from this moment because we're all optimistic about bitcoin's usecase.

[sangjoewara]

It sounds very bad to hear that 12000 pieces of Bitcoin can wreak havoc of Bitcoin value, I wonder what will happen if a whale decide to sell 100k of Bitcoin someday, Bitcoin max supply is 21million right? If 12000 can bring this damage then Bitcoin is just like every other coins

True, this could be disastrous for the value of bitcoin if someone releases 12000 units of bitcoin, and this looks like an assumption of mind, if I may know where did you get this news from? because things like this will certainly surprise everyone in cryptocurrency.

[casperBGD]

Honestly I'm shocked as well that small pieces of Bitcoin can actually drive down it's price like that and I expect many to buy the orders in instant, anyways let's just wait it out, moreover it's all about waiting game in crypto space, Bitcoin will recover

that would make chaos in every market, on stock market those quantities are sold OTC, not with an offer on the exchange, since the demand is always lower than that at one particular moment, because if you put that quantity in order to buy, price will certainly go up, it is a principle of supply and demand

[Yudhisthir]

The current total circulation of Bitcoin is 18.2 million and most of them are held on hard wallets and most of them locked in one way or other. As an example Binance has locked 9001 BTC for issuing BEP2 Bitcoin. And that 12000 is about 0.065% of total circulating supply considering 18.2 million and could be larger if you consider the real circulation for trading.

[Yogee]

The timing couldn't be much worse. They were disposed at the time of COVID-19 pandemic. We can assume that many bitcoin traders have converted to fiat also to join others in panic buying. If the 12,000 Btc were sold at a regular and normal day, the effect on the market wouldn't be as bad as it is today.

[Furious 7]

It also must have had a big effect on selling 12k BTC simultaneously but I don't think it will go deeper for sure prices of bitcoin will rise according to many of its requests.

The pope always dominates bitcoin because it holds so much whereas they will not sell just like that in large numbers. The pope always thinks of his own risk if what will happen to bitcoin in the sale of all 100k btc at a time, will definitely have an adverse effect.

[shinratensei_]

It sounds very bad to hear that 12000 pieces of Bitcoin can wreak havoc of Bitcoin value, I wonder what will happen if a whale decide to sell 100k of Bitcoin someday, Bitcoin max supply is 21million right? If 12000 can bring this damage then Bitcoin is just like every other coins

It's not caused by the whale but it looks like the scammer that was coming from the plusttoken project is the real dumpers that created a big bearish market. As far as i know, if he was still having a lot of bitcoin remaining on the wallet that will be dumping again in the future. As long as the liquidity will be very strong enough to eat all of the bitcoin that will be dumped and the market will be fine.
This will be going back again to the how good the condition of liquidit in the bitcoin market.

[dainoran]

In my opinion it seems like a strategy to panic sell and at that time many people buy when the price of bitcoin goes down to get a bigger profit when the price of bitcoin goes back up.

[antsam]

It sounds very bad to hear that 12000 pieces of Bitcoin can wreak havoc of Bitcoin value, I wonder what will happen if a whale decide to sell 100k of Bitcoin someday, Bitcoin max supply is 21million right? If 12000 can bring this damage then Bitcoin is just like every other coins

its simple the price will go down if they sell a large portion of his holdings.
 If you are asking how deep it should be then its depends on the buyorder in that time and how many people will believe that the sell off is just temporary and they will set a buy orders.

Yes, the price will go down for a while, the market will adjust because the economic law will run if the excess supply then the price will go down. But after the market can adjust, the price will be stable, no need to worry because the maximum number of only 21 million in circulation is currently only 18,264,475 Bitcoin

[mu_enrico]

It sounds very bad to hear that 12000 pieces of Bitcoin can wreak havoc of Bitcoin value, I wonder what will happen if a whale decide to sell 100k of Bitcoin someday, Bitcoin max supply is 21million right? If 12000 can bring this damage then Bitcoin is just like every other coins

Bitcoin is not as severe as any other altcoin where you could find 50% or more of the total supply owned by the devs (or investors, whatever). Some calculated the biggest whale in Bitcoin is Satoshi, with about 1 million coins or so, but he disappeared. Maybe these coins would be lost forever.

With that in mind, the reason your favorite altcoins are still valuable is because of the whale's mercy.