Don’t panic? ‘Smart money’ whales are waiting to buy Bitcoin at $8,800
Cointelegraph
Published Sep 04, 2020 09:12AM ET
Updated Sep 04, 2020 11:00AM ET
The price of Bitcoin (BTC) abruptly declined by 10% in a single day on Sep. 4. Following the dip, the sentiment around the cryptocurrency market has become noticeably cautious with the Cryptocurrency Fear & Greed Index flashing “fear” for the first time since July.
However, market data shows that whales are preparing to purchase Bitcoin at $8,800 support level. It indicates that a March 13-like drop is unlikely to happen, when BTC dropped to as low as $3,600.
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Written By: Cointelegraph
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