Bitcoin Transfers to Exchanges Spikes to Near All Time High – Trustnodes

Wednesday saw one of the biggest transfer volumes from ‘whale’ entities to exchanges, topped only by the March 2020 crash.

Some 80,000 bitcoins were transferred in just one day to tracked exchanges, worth some $2.3 billion at current prices.

That compares to about 15,000 sent daily at the beginning of the month, making it a 5x jump in one of the most volatile day for cryptos.

In relentless selling bitcoin plunged to $25,000, with it now somewhat recovering to $28,000, as hysteria seems to have gripped crypto investors.

Blockchain fees spiked, with some 15 bitcoin in fees queued to enter as network activity led to one of the most congested day.

Panic was everywhere in a day that saw most cryptos fall 40% after having dived 20%-30%.

It’s something you’d expect to see during an autumn bear. Yet this spring, many cryptos are down 90% already.

Too fast, too far, as investors lose their head, in a day that had whales shake crypto.

Yet, they can be powerless in this crypto space as long as this generation does not repeat the mistakes of our forefathers.

They willingly gave their gold to bankers, and now bankers rule. The digital gold can’t be confiscated. It is still mostly held by ordinary investors, rather than corporations. And so the public gets a say in monetary matters as long as it isn’t fooled to give away their vote.

Because it is corporate investors mostly selling, both here and in stocks. They want their dump and pump. It is the public’s choice whether to give it to them, or hold the line and say not in our time.