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Giant Bitcoin Whale Dumps Coinbase! Master Announces Strategy

Dev Bitcoin Balinası Coinbase’e Boşaltıyor! Usta, Stratejiyi Açıkladı
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The cryptocurrency market has experienced massive liquidation with hard sales in recent days. Bitcoin, the leading crypto, recovered slightly with purchases after hitting $54,000. However, it remains unclear how long the sales will continue. In this uncertain environment, Mike Novogratz’s Galaxy Digital sold $89 million worth of BTC. The crypto community was stunned by this move. Amid expectations of further declines, veteran analyst Samson Mow shared his forward-looking strategy.

Bitcoin whale moves to Coinbase, market stunned!

As you have been following on Kriptokoin.com, the market had a pretty bad weekend. Bitcoin and altcoin prices witnessed deep declines amid sharp sell-offs. During this period, on-chain analytics platform Lookonchain recently reported that Galaxy Digital transferred a large amount of Bitcoin to Coinbase Prime. This crypto-focused investment fund is led by Mike Novogratz, the famous Bitcoin bull and former Goldman Sachs partner. This giant whale moved a total of 1,652 BTC worth $89,928,189 in four major transfers.

As the cryptocurrency community was abuzz with the news of this transfer to Coinbase Prime, multiple crypto enthusiasts left comments below the tweet, expressing their deep concern over this sale by Novogratz’s company.

This trigger drove the price of Bitcoin down!

The leading cryptocurrency was hit by a massive sell-off that started on the exchange following the Nvidia sale after receiving a subpoena from the US Department of Justice. BTC fell 5.65% on Saturday, mostly on a large hourly red candle. It fell from the $56,590 area to a low of $53,400. So far, it has recovered a bit but still has yet to recoup its losses. At the time of writing, Bitcoin was changing hands at $54,527.

Strategies for BTC from Samson Mow

Bitcoin bull and JAN3 Chief Executive Officer Samson Mow shared his views on the current state of crypto market sentiment. Some traders and analysts are suggesting that BTC will fall further with sentiment starting to build in the market. In this context, some of them even give a $40,000 or even $31,000 drop target for BTC. For those who believe in this scenario (he is not among them), Mow offered a few options to take action. The first was “HODL + keep stacking”. The second was slightly different. The strategy accordingly: “HODL and stop hoarding.” The third option was to sell the entire BTC stash and “quit in a huff”. Last on the list was the suggestion to “sell everything + buy the bottom”.

However, Mow cautioned that because he believes Bitcoin (BTC) will “eventually hit $1.0 million”, it will first become “sell/cent parity” and then “sell/dollar parity”. Therefore, options two and four are “losing bids,” he explained. Mow also said that it would take a lot of luck to try number four. Finally, Mow explained his strategy, saying, “Given everything we know, option number 1 is the only winning play.” So “HODL and keep stacking.”


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Giant Bitcoin Whale Dumps Coinbase! Master Announces Strategy
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