{"id":239035,"date":"2018-04-19T07:21:04","date_gmt":"2018-04-19T05:21:04","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=239035"},"modified":"2018-04-19T07:21:04","modified_gmt":"2018-04-19T05:21:04","slug":"bitcoin-whale-sightings-leave-bitcoin-traders-jumpy","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/239035\/bitcoin-whale-sightings-leave-bitcoin-traders-jumpy\/","title":{"rendered":"Bitcoin whale sightings leave Bitcoin traders jumpy"},"content":{"rendered":"
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Occasional sighting of Bitcoin whales are leaving advocates of the biggest cryptocurrency anxious after what\u2019s already been a choppy week of trading.<\/p>\n

Sudden market swings in the cryptocurrency this week have left price charts looking like a jack-o-lantern\u2019s smile. And some investors are blaming the gyrations on actions by large Bitcoin holders, known as whales.<\/p>\n

\u201cThe best explanation is coming from those whales in the market who want to have some sort of control on what\u2019s going on,\u201d said Jonathan Benassaya, the founder and chief executive officer at San Francisco-based IronChain Capital.<\/p>\n

\u201cIt\u2019s some sort of manipulation from actors.”<\/p>\n

Bitcoin\u2019s recent choppy moves aren\u2019t that unusual, cautioned Tom Lee, head of research at Fundstrat Global Advisors.<\/p>\n

“I think it feels off right now because, you know, we\u2019ve been on a down trend since December, and now, even though the volatility hasn\u2019t changed much, it\u2019s hard to tell if Bitcoin is trying to stage a recovery or if it\u2019s continuing its down trend,” Lee said.<\/p>\n

In a less mature market that lacks the same history and complexity that the stock market holds, the digital currency is a lot more vulnerable to liquidity movements. “It\u2019s the state of it now because there isn\u2019t a ton of liquidity and there is regulatory uncertainty and general nervousness,” he said.<\/p>\n

\"\"<\/a><\/p>\n

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Read: Why Bitcoin has seen its biggest surge since December<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Occasional sighting of Bitcoin whales are leaving advocates of the biggest cryptocurrency anxious after what\u2019s already been a choppy week of trading.<\/p>\n","protected":false},"author":59,"featured_media":53022,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[5537],"class_list":["post-239035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bitcoin"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/239035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=239035"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/239035\/revisions"}],"predecessor-version":[{"id":239039,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/239035\/revisions\/239039"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/53022"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=239035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=239035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=239035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}