10K+ Bitcoin (BTC) sold in panic selling bout, but investor confidence undeterred

Bitcoin investors are not alien to FUDs. However, this time it seems like the reason they reacted the way they did, was probably due to some sort of trigger. In response, thousands of Bitcoins were sold off by the investors. But the situation is not as dreadful as it might appear to be.

The ongoing COVID Omnicron worry combined with the general market FUD led a lot of investors to sell off their holdings to prevent any losses. As it is, in November, over 3 million addresses experienced absolute losses owing to the price fall.

Now, as Bitcoin trades in red again today, after yesterday’s stabilization, it appears that the investors might have made a hasty call.

Yesterday over 10,242 BTC worth $575 million were sold off in 24 hours. This selling makes sense and was anyway expected since the beginning of December wasn’t particularly great.

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