Where next for Bitcoin price? BTC continues to stagnate below $18K
Throughout the past few days, the sell-side pressure from all sides has intensified. miners have sold their holdings at a scale unseen for over three years. On top of this, the inflow of whale-associated BTC into exchanges has substantially spiked. The combination of the two data points indicates that miners and whales have been selling in tandem.
Bitcoin continues to trade under $18,000 following a week of aggressive selling from whales, miners and, possibly, institutions. Analysts generally believe that the $19,000 region was a logical area for investors to take profit, and as such, a pullback was healthy. Heading into the latter part of December, price analysts expect the downside of Bitcoin (BTC) to be limited and a gradual uptrend to follow.
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