A Bitcoin Whale Talks about Its Volatility
It was towards the end of the year 2020 when Bitcoin (BTC) started picking up highly on its price. By December 20, 2020, Bitcoin (BTC) managed to cross the $19k milestone again since 2017. While the majority of the investors were skeptical about Bitcoin (BTC), speculating it will drop again, Bitcoin (BTC) kept on growing.
Even the beginning of the year 2021 saw Bitcoin (BTC) continuing to achieve its all-time highs until January 10, 2021. On January 10, 2021, Bitcoin (BTC) hit its all-time high of $41k per BTC until plunging all the way down to $30k per BTC within 24-hours. However, the largest-cryptocurrency still managed to rebound and came all the way back to $35k per BTC.
However, since the $30k plunge, Bitcoin (BTC) has been hovering between a figure of $32k per BTC and $33.5k per BTC. As of now, there are many investors that have their fingers crossed around the price of Bitcoin (BTC). Many are afraid that investing in Bitcoin (BTC) at this moment is full of risks and there.
The biggest role in injecting fear into the investors is being played by the regulatory authorities. The majority of the regulatory authorities are persuading their investors stating that investing in BTC at the moment is full of risks. So far, it seems that these regulators and anti-crypto institutions have succeeded in causing fear in the investors regarding BTC’s volatility.
With so many rumors surrounding the volatility of Bitcoin (BTC), the BTC whales have now started emerging to save the day. They have popped up to help BTC regain the same amount of trust it had just 3 weeks back among the investor community.
According to one of the prominent BTC whales, Bitcoin (BTC) will eventually gain stability with respect to its price in the coming days. The BTC whale stated that with time, wealthy and institutional investors have started investing in BTC. Even when BTC turned bearish in value, the financial institutions kept on investing in BTC. This goes on to prove that BTC is only going to see light at the end of the tunnel and will see all-time highs soon.
The name of the BTC whale is Eric Peters, who is the founder and the chief executive of operations at One River Asset Management. Peters shared his observations and predictions around the prices of Bitcoin (BTC) in the coming days at Bloomberg on January 28, 2021.
He stated that towards the end of the year 2020, Bitcoin (BTC) had become a mature asset in the investment industry. This is the reason why it is now on the right track of growth, development, and success. He stated that with time, Bitcoin (BTC) has started drawing the attention of prominent and firm investment firms.
These investors are here to ensure that Bitcoin (BTC) becomes a stable asset to the industry for investments and holdings.