Whales in control unless Bitcoin drops to $36k, Prosper Academy CEO says


Scott Bauer, the CEO of professional trading platform Prosper Training Academy has said following the recent Bitcoin price correction whales are taking advantage by accumulating more of the asset partly contributing to the volatility experienced.

Speaking to the TD Ameritrade Network, Bauer noted that Bitcoin’s price is stuck in the current range for a long time giving whales an opportunity to accumulate.

He suggested that unless Bitcoin breaks the $42,000 barrier towards the $36,000 mark, whales will still have the upper hand.

According to Bauer, the drop in Bitcoin presented an opportunity for inventors with risky assets to accumulate, taking advantage of the 24/7 availability of cryptocurrency markets.