Panic Selling of BTC Has Come to a Halt

  • The falling face is an appropriate opportunity to convert Altcoins to Blue-chip coins.
  • The selling rate crossed 175K in the mid of the week.

For the last few days, the crypto market had to face many cryptocurrencies being sold. The reason behind this is seen to be the fear among investors as the volatility is very high. People are taking this step to think to gain as much as possible, as the dip seems to have prolonged.

Analysts advise the bothered investors not to be anxious and to hold to their shares. The one major piece of advice from their side is to acquire the coins or tokens that they were aiming to do for a long time.

Gritt Trakulhoon, the lead crypto analyst at investing app Titan, states:

“Bear markets are typically a great time to accumulate the coins you have long-term conviction in,……..it’s a tough market for sure, but it’s a good time to strategize.”

BTC Selling Rate

The current BTC price is around $29.5K, according to CMC at the time of writing. The glassnode reports the selling rate of BTC crossing 175K on May 12, and as of early the present day, it is within the 50K limit.

BTC Sell Pressure (Source: Glassnode)

Also according to the intotheblock, the cumulative exchange price at the end of May 13 is $1.37B which is 37.74% less compared to the previous day’s $3.63B.The highest exchange in the last three months was noted on May 9, with a $4.11B price.

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