Large, long-term crypto and Bitcoin investors continue to sell into the market, keeping asset prices from hitting a blow-off top.
Crypto whales and long-term holders are cashing out, exerting constant selling pressure on markets, and keeping crypto prices suppressed, similar to market dynamics following the 2000s dot-com stock market crash, according to analyst Jordi Visser.
Visser said the current price action in the crypto market is reminiscent of the period following the 2000 dot-com stock market bubble, which crashed stocks by up to 80%, followed by 16 years of consolidation before they regained their previous highs.
This meant that venture capitalists, who invested in tech during the crash, were forced to hold their investments due to mandated lock-up periods as they treaded water and then desperately sold into the markets as soon as they were able to, Visser said. He added:
Read more