Is The Current Volatility A Sign Of BTC Whales ‘Dying Out’?

PMBC Group’s client, BitcoinIRA.com, was featured on Ethereum World News.

The total crypto market capitalization has lost a massive $38 Billion since last week Wednesday, the 5th of September. Back then, the crypto community was gearing up for a resurgence of Bitcoin to levels of above $7,500 as the total crypto market capitalization stood at $239 Billion. The same market is now worth $201 Billion signifying a drop of 19% in a week. BTC is currently valued at $6,412 and down 10.15% in the last 24 hours.

In an exclusive interview with Ethereum World News, BitcoinIRA’s co-founder and COO, Chris Kline, had this to say about the eventual decline of BTC whales in the markets.

“Whales are the big players, where the ocean is a metaphor for the cryptocurrency ecosystem. While they currently have the potential to impact investments, over the long term and as the crypto market matures, I believe their ability to impact the market will dwindle.”

To read the full article, click HERE.