How does the dumping of bitcoin by Chinese whales affect the price of other cryptocurrencies?

1 answers

• Nov 27, 2021 · 3 years ago
  At BYDFi, we closely monitor the activities of Chinese whales and their impact on the cryptocurrency market. When these whales decide to dump their bitcoin holdings, it often leads to a temporary decline in the prices of other cryptocurrencies. However, it's important to note that the market is highly dynamic and can quickly recover from such events. In fact, some investors see these dumps as buying opportunities, as prices tend to rebound after the initial shock. While the dumping of bitcoin by Chinese whales can create short-term volatility, it does not necessarily indicate a long-term trend for other cryptocurrencies.
  628314