The price of Bitcoin dropped significantly in 2022 before the abrupt collapse of FTX last month. This was due to rising interest rates, increased association with overvalued tech stocks, and instability in other parts of the cryptocurrency ecosystem.
Currently, the price of Bitcoin is around $16,604, with a market capitalization of $319,554,631,816.13. This year, Bitcoin has experienced a change of -64.09%.
As the year comes to a close, many are looking forward to what BTC ຈະເປັນຄືກັບໃນປີ 2023.
How Are The Whales Influencing The BTC Price?
According to data from Santiment, the number of Bitcoin (BTC) whale transactions that cost more than $1 million has reached its lowest level since December 2020.
There is a direct correlation between the price of BTC and whale transactions that total more than $1 million. This is because the price of BTC may potentially decrease persistently due to whales’ unwillingness to accumulate or distribute.
Source: https://coinpedia.org/bitcoin/bitcoin-might-enter-2023-on-bearish-note-btc-price-heading-to-this-level-in-january/