Bitcoin Whale Causes Flash Crash!!! Did you miss it?
Today, I have a list of very interesting news pieces to share with you. Let me show you what they are. First up, as reported on the Daily Hodl, 6,500 Bitcoin was just sold out at the price of $12,100 per token by a massive crypto whale, triggering a flash crash on Binance. Next, we have a positive analysis from Bloomberg, stating that Bitcoin indicator signals a breakout in the near future. They also gave us some forecasts for Ethereum, XRP, and Litecoin.
Furthermore, it is super exciting to know that BitTorrent, a cryptographic token powered by the TRON platform, has just introduced its new software which can enhance the downloading speed. Definitely some interesting stuff guys. If you want to find out more about them, then please sit tight and stay with me until the end of this video.
Just before we jump in, this week’s giveaway is $70 in Bitcoin tokens. All you guys need to do is to like, subscribe and comment down below to go in the chance to be our lucky winner. We will be announcing the winner this Saturday by drawing a video and then randomly picking a winner from that video. If you love our videos and want to win $70 worth of Bitcoin, don’t forget to like, comment, and subscribe.
The Market Today
Now, let’s have a look at the cryptocurrency market. Today’s market is bearish across the board. On the top 10, there is a mixture of gains and losses. It is pretty awesome to see Bitcoin is once again heading to the $13,000 mark with a 4.1% increase. On the other hand, Ethereum and XRP are losing by 0.05% and 1.45%. After the issue concerning angry Chinese citizens protesting at TRON’s office yesterday, TRON is now of to a bit of a better trajectory, slightly increasing by 0.08%. Moving on, we can see a totally bearish market for the top 20. Chainlink is plummeting by 9.25% after the surge last week. Similarly, Cardano and Stellar are also dropping 2.54% and 2.92% respectively.
6,500 Bitcoin was sold at $12,100 by a crypto whale
Now, let’s get back to the main news segment. Per a report on the Daily Hodl, a Bitcoin whale has just triggered a flash crash in the price of Bitcoin on the leading crypto exchange Binance by dumping 6,500 Bitcoin. Alex Saunders, the founder of Nugget’s News, tracked the big sell and tweeted:
“A whale just dumped 6500 $BTC on @binance at $12100. The order is been eaten away at. Only 3500 left. People buying the dip.”
This $78.6 million deal quickly dropped the price of BTC on Binance exchange from just over $12,600 to around $12,100. The price quickly recovered, and at the time of taking this video, it has recovered to more than $12,800, up 4.1% in the last 24 hours, according to Coinmarketcap. The coin’s dominance in the overall crypto market cap now stands at 64.19% – a new high for 2019. This response from the crypto holders shows that the market is still very optimistic about the Bitcoin future.
Bitcoin indicator signals breakout in the near future
Moving on to the second news item for today. With the current technical indicators, Bitcoin is very likely to breakout ahead. In other words, Bitcoin’s recent rally may be entering a new extension. Vildana Hajric, a Bloomberg journalist, wrote in his article:
“Bitcoin’s followed a similar trend since mid-February and has breached yearly highs at least once every month since then. The cryptocurrency broke above its upper band limit for the first time this year in early February, for instance, and reached a fresh yearly high shortly afterward.”
Crypto experts are also paying close attention to Bitcoin’s latest move. Bullish performance affirms that the industry’s ability to draw in major corporate and big tech corporates such as Facebook and Fidelity is strengthening the crypto market. Edward Moya, the chief market strategist at Oanda Corp., a global leader in currency data and forex trading for retail and corporate clients, says in an interview:
“Bitcoin looks like it could be coiling for a big breakout as institutional interest for blockchain technology shows no signs of slowing down. The bubble-like gains this time are driven on solid institutional interest and while security is still a big risk, it appears Bitcoin has overcome many of its initial growing pains.”
Currently, technical analysts are gauging Bitcoin’s ability to retest its 2019 highs near $14,000 as altcoins try to keep pace with the crypto king.
BitTorrent introduced new software to enhance the downloading speed
Moving on, we come to the final piece of news for the day. BitTorrent has released its downloads optimization software, BitTorrent Speed, with native token functionality, revealed in an official press on July 8. As reported, the tokenized content platform will enable its users to optimize their network speed and attain faster downloads. Specifically, the BitTorrent Speed software will now be integrated into all new downloads of the company’s µTorrent Classic Windows client. On the BitTorrent Speed website, it reveals that users will be rewarded with BTT as a motivation for seeding and bandwidth. Also, an integrated wallet has been built to enable users to manage their token earnings. Unfortunately guys, currently, the product remains limited to Windows users only. But they do have apparent plans to extend coverage in the future. For those who are unaware, Tron, which acquired BitTorrent in July 2018 for an undisclosed amount, has been working to integrate the two decentralized networks on the basis of Bittorrent’s stalwart peer-to-peer sharing technology standard, which launched in its earliest form back in 2004.
And there you have it guys! That news is the last item for today.
So do you have any thoughts to share with us?
What do you think about the pouring of 6,500 BTC of a crypto whale? Is there any conspiracy behind that?
Based on the technical indicators of BTC, do you believe that it will retest the $14,000 mark shortly in this year?
And finally, are you excited to use the new downloads optimization software, BitTorrent Speed?
Please let me know what you are thinking right in the comment section below. And guys, please don’t forget to like and subscribe to go into the draw to win $70 worth of Bitcoin. It’s your girl Cindy with CryptoPig, I’ll see you guys tomorrow.
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.