CoinList President: Institutions are Selling-Off Bitcoin, Not The RetailersAuthor: Justinas BaltrusaitisLast Updated: January 5, 2020 Bitcoin has seen the biggest price drop in 2019 in the last few days. For the first time since June, the number one cryptocurrency crashed to $8,000 and even below to high $7ks. This has raised a lot of questions, particularly because the crash coincides with the launch of the long-awaited Bakkt physical Bitcoin Futures Trading platform that was expected to bring in institutional investors.CoinList Co-Founder and President Andy Bromberg spoke with Bloomberg about the situation. He said the coincidence with the crash does not mean institutional investors are not being attracted by the platform as it should, but it points to the fact that there is something else going on.Institutional Investors Dumping On The MarketThe crash in Bitcoin price was engendered by a massive sell-off in the industry. Most of the sellers are institutions rather than individuals as the money flow has been from derivatives exchanges and not spot exchanges, Bromberg when he was asked if there is an explanation for the price crash.“…if we look at what was unique or interesting about this run over the last five days going down, a few things stand out. The first is that almost all the volume came from derivatives exchanges not spot exchanges. So derivatives exchanges were doing an order of magnitude or more volume than spot exchanges. This points to the idea that it was not retail selling. It was larger investors selling but they are sophisticated going to use derivatives exchanges instead of spot exchanges,” he said.He added that the crash does not actually mean something is wrong with the market but that larger sellers are the ones dumping on the market not retail sellers. Since the larger sellers own more money, it is not surprising that the market is feeling the impact so much at this time.Bitcoin Will Grow As A Safe HavenAlthough the price of Bitcoin is in an uncertain state right now with the dump by larger investors, Bromberg says it is becoming increasingly popular to invest in Bitcoin as a safe haven. Making reference to the China trade war and other issues with the stock market as factors affecting the price of Bitcoin at this time, he said the status of Bitcoin as a safe haven will get stronger as these factors continue to play out.The major issue so far is what will happen to Bitcoin in the short and long term. For now, most consider it a buying opportunity to wait for a come back.Featured image via Bloomberg YoutubeClick here to know more about Bitcoin Trading.