According to the latest news, Blackrock moved 100K $BTC to 29 different wallets. What is happening and what are the next move for the market?
There is a rumor that is spreading throughout the crypto industry that Blackrock is going to start selling.
First of all, let me tell you about Blackrock. It's a largest company in the crypto industry who invested a huge amount of money in BTC.
You may notice that from $28,000 the price of Bitcoin did reach $69,000 within a month. The main buyer was Blackrock, who did huge buying.
On December 11, over 5hour period, Blackrock withdrew over 100K BTC to new BTC addresses.
When I read this statement, at first glance it seems to me that they are going to shift their amount to decentralized exchanges.
But now, according to rumors and what experts are saying, that BlackRock is going to sell huge amount of Bitcoin.
Now according to this rumours there are only two possible scenarios.
One that Blackrock might sell some Bitcoin which will shortly takes the price down and in the second scenario there will be a form of manipulation.
This is because they want to buy some more and they bring fear in the market and in this case small investors become panic and will start selling their holdings.
In such market scenario entry in the market is now extremely risky, especially if you consider that BlackRock could have 2X impact compared to Mt GOX and Germany combined.
If they start selling, there will be huge dumping in the market.
THANK YOU!
