Bitcoin Saw a Quick Dip After 7 Up Market Days

$BTCUSD

Tuesday 17 April, Tax Day in the US, saw a fast dip with 1 big seller disposing of  which could have been the result of what is though to be 1 seller dumping $50-M worth of the digital currency.

The balance in an anonymous digital account valued at $1.49-B fell by 6,500 Bitcoin Tuesday, with the average sale price sale being $8,146.70, a total value of just over $50-M, according to the discernible market data.

The sale comes a day after the 3rd-largest wallet, which purchased over $400-M of Bitcoin in February, sold 6,600 Bitcoin at an average price of $8,026. All told, 2 holders sole over $100-M of Bitcoin within a 24 hr frame.

Initial reaction was to point the finger at New York Attorney General Eric Schneiderman, who announced he was launching an inquiry into 13 cryptocurrency exchanges, seeking information including exchange fees, volume data and procedures around margin trading. But it became clear that was not the case.

On 12 April, the 2nd-biggest Bitcoin wallet sold $38-M of the #1 digital currency, all of this presumably to pay US federal capital gains taxes on the last day + the allowed extension.

Currently, Bitcoin is selling at: 7,921.9951, -91.1201, or -1.14%, as of 4:37a BST, the market is open.

Notably, there are serious bids under this market.

Stay tuned…

  Bitcoin, BTCUSD, currency, day, digital, dip, sale, seller, selloff, tax, wallet

The following two tabs change content below.

• Bio
• Latest Posts

HEFFX Australia

HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

Latest posts by HEFFX Australia (see all)

• First Merchant Navy and Churchill Weanlings on Show - July 3, 2020
• QIPCO 2000 Guineas here Kameko seeks to stay step ahead of Investec Derby rivals - July 3, 2020
• Varian hoping his fillies can rise to the occasion in the Investec Oaks - July 3, 2020