Earlier this week, the price of Bitcoin dropped down to around $16,000. The crypto community was quick to speculate that these tokens were actually intended to dump on the open market. Consequently, that would have caused the price of the cryptocurrency to drop further lower.
However, the CEO of Sino Global Capital, Matthew Graham, says that most of the Bitcoins from the Plustoken Bitcoin have been actually sold.
Even though, whether or not the cryptocurrencies have been actually sold or not, McGrath says that crypto traders need not put attention on short term trending stories and make investment decisions based upon it.
In an interview with Cointelegraph publication, McGrath stressed on the importance of looking ahead while cutting out through the noise.
He even emphasized that the crypto traders in the west are spooked out by crypto miners in China. Speculations are further making rounds that miners in China could conduct a 51% network attack that could impact the control of the Bitcoin supply. He adds to this saying: