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Bitcoin and XRP Collapse, and This Whale Just Lost $17 Million
The majority of top altcoins have underperformed Bitcoin in recent days, with the Ripple-affiliated XRP cryptocurrency plummeting by a staggering 8.2% over the past 24 hours. Meanwhile, a former Goldman Sachs analyst has predicted that Bitcoin will surge to an astonishing $200,000.
However, this is not just any bear market. A whale who went long on Bitcoin two months ago has now lost more than $17 million due to the cryptocurrency’s price collapse. The investor is now at risk of being liquidated if the price drops below a critical level.
A textbook correction?
According to 10x Research, the cryptocurrency market was expected to correct itself due to waning speculative momentum. The firm claims that the shift in sentiment has “significantly dampened” retail speculation.
This correction could be a short-term bounce for some of these altcoins.
Source: https://u.today/bitcoin-and-xrp-collapse-and-this-whale-just-lost-17-million
