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Sunday, September 26, 2021

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The bitcoin whales are reactivated: is there a new jump to USD 50K?

The bitcoin whales (BTC) have returned to activity after a short break. As the cryptocurrency tries to form new support before taking another jump above $ 50K, big investors are piling on new cryptocurrencies. In the last hours, it transpired that the second largest whale just bought more than 500 BTC; that is, an investment of almost 24 million dollars.

VentureFounder, one of the CryptoQuant analysts, reported that the whale bought 38 BTC on August 26, and 466 BTC the next day, at a price of USD 47,400.

As reported by the North American media, it is a BTC address with a highly speculative track record. The last big sale was recorded in April of this year, when the price of BTC hit highs above $ 60K.

Weeks later, when environmental concerns and Chinese government crackdowns crashed the market, the whale again posted heavy investment. Precisely, the last before the most recent was 21 July, right after BTC approaches its yearly lows. At the end of that month, much of that capital was transferred to the Coinbase exchange.

The expectations of the crypto ecosystem grew from the reactivation of the whales. The price of BTC is currently hovering around $ 48,000, and everything seems to indicate that a new leap is coming. In annual terms, the cryptocurrency registers a growth of more than 60% which, although it is extremely positive, is still far from 300% in 2020.

Keep reading:

► BTC daily trading volumes doubled during the weekend’s rally

► The number of cryptocurrency users doubled in the first half of 2021

► The 10 largest whales accumulate 20.5% of total ETH

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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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