2600 euro Bitcoin price drop in ONE MINUTE
With Relative Strenght Index measures getting at very high levels (month 95, week 80, day 85, 4h 91, 1h 81), I decided to sell my Bitcoin ETF. Just a few minutes after that, the price of Bitcoin dropped with 2600 euros in - mind you - just one minute! It happened 15:18 Amsterdam time.
I guess one of the big sharks decided to do the same as I did, just in bigger quantity. This might be a stand alone move, but it is also very likely more moves like this will follow the next few days. Keep safe!
Which exchange?
I bought and sold the Bitcoin ETF (named 'Bitcoin Tracker One') at a Dutch broker platform: Binck. The ETF is listed on the Stockholm Stock Exhange. The picture I included is from tradingview.com.
Oh vandaar, die ken ik! Waarom pak je de tracker vs BTC eigenlijk?
I choose the tracker over bitcoin because it is convenient to have an asset that needs not the same level of protection as holding bitcoin. Besides, when the bitcoin price goes down, mostly the crypto exchange websites go down too. This issue is avoided by going on a mainstream broker platform.
That is actually very smart. Definitely interesting. Thanks for elaborating!