What if somebody will make a huge dump and sell it all the way to earn some profits because of this rally in bitcoin,and someone sees it and do that same thing. Is there any effect on bitcoin when someone to this,?
Panic Selling is huge crisis for bitcoin prices. Sometimes slight decline in bitcoin prices cause chain selling effect. Under this, with slight decline say $20-30, people grow panic and do mass selling. This lead to increase in supply as compared to demand. As a result, prices decline which can be upto $200-300. This is one of the main reason for volatility of btc prices.
Published at Sun, 12 Mar 2017 06:06:15 +0000
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