FX.co ★ The movement of lots of old bitcoins magically leads to the collapse of the cryptocurrency.

Time and time again, we return to the situation of the Reddit community which showed the whole world that if a group of people with money unite, it can lead to a collapse in the stock market and bring huge losses to institutional investors. After all, large investors do not agree with each other to bring down certain stocks. But small traders can do this through forums or chats. As a result, the reality of 2021 is as follows: any stocks or cryptocurrencies can move not under the influence of market realities and indicators, but under the influence of banal demand. That is, the reasons for the formation of strong demand may not be necessary at all. The community has agreed to buy this or that asset and does it, the asset becomes more expensive, and the rest of the world does not understand why it's happening. After all, there are no visible reasons and grounds for this growth. Approximately the same patterns work in the cryptocurrency market. Elon Musk's tweets and messages about buying Tesla bitcoins are already stories that will be told to children. However, analysts of the cryptocurrency market have found another interesting pattern. As you know, a certain part of the coins lies without movement on the wallets almost from the very creation of the cryptocurrency, that is, since about 2010. There are suspicions that a huge number of coins belong to the creators or persons associated with them. Thus, the movement of such old bitcoins surprisingly coincides with the fall of the exchange rate. Usually, old bitcoins are sold in small batches for one thousand or so. However, it is quite possible that not only old bitcoins are being sold, but also lots of new ones, which suggests a certain collusion of several investors (dozens of investors, hundreds of investors). And really, what prevents a hundred or two relatively large bitcoin holders from creating a chat in Telegram and agreeing on joint transactions there? As we found out a little above, the reasons for the growth of demand or the fall in demand are no longer needed. Investors agreed to sell-bitcoin to fall in price. At least five such cases have been reported in the past few months. Thus, we can assume that investors are beginning to slowly get rid of bitcoin, since the hype has passed, and there are not too many buyers at the levels of $ 44,000 per coin. We still believe that the key support for bitcoin is at $ 44,000. If investors release digital gold below this level, it can lead to a drop in the cryptocurrency to $ 30,000 per coin. In general, a roll down will be triggered.