Despite the recent volatility in the price of Bitcoin, whales continue to acquire and keep BTC. Despite the present uncertainties in the market, large investors continue to acquire Bitcoin on a daily basis and increase their holdings in the cryptocurrency.
Bitcoin Whales are putting bitcoin in their bags!
Indeed, there is a Bitcoin whale that allocates $1 million worth of Bitcoin every single day to the general public. This demonstrates that these investors are still optimistic about the future of Bitcoin.
Bitcoin’s recent price movement may not necessarily reflect the actions of significant investors and holders at the time of writing.
Each day, these enormous Bitcoin whales make massive purchases of Bitcoin without regard for the price or the performance of Bitcoin in the market. Every day, they just add more coins to their collection.
According to BitInfocharts, there is a Bitcoin whale that buys $1 million worth of Bitcoin on a daily basis, a record for the cryptocurrency.
Almost every single day, he purchases close to 25 BTC and deposits the amount into his bitcoin wallet account. It is not taken into account while making these purchases that the market’s price may fluctuate.
According to C15Capital (@Capital15C), a cryptocurrency aficionado on Twitter, this has been brought to his attention.
This whale has been purchasing Bitcoin for a significant amount of time. Indeed, this investor has been steadily increasing the amount of Bitcoin he has in his possession since February.
At the time of writing, he had more than 9,700 Bitcoins in his possession. At the current exchange rate, this is worth $412.5 million.
Nevertheless, this buyer may be a cryptocurrency exchange or a simple middleman that buys and sells virtual currencies to other dealers on a commission basis.
It is of high chance that it could not be an individual but rather about an exchange or a major corporation.
It’s indeed important to note that Bitcoin has just declined from $44,500 to $42,000, a decrease of almost 5%.
The price of the world’s most valuable virtual currency has now steadied at about $42,600 at the time this article was written. While the market remains unpredictable, investors are keeping a careful eye on what Bitcoin may accomplish in the following weeks and months, as well as the future of the cryptocurrency.
It should also be taken into consideration that the price of $43,000 is seeming to be a significant point of resistance that has acted as support in the past, (Due to negative polarity,the price has crossed below that specific price, it has been converted to ressistance). This is very significant since it has the potential to have an influence on Bitcoin in the near future if the currency begins to rise in value once again.
Now, Bitcoin’s price trend is unclear, and there are not any significant indications of what may happen to the cryptocurrency in the future months. Considering the Daily Indicators Of RSI,MACD and the Stochastic RSI things could fall a little bit more, in any case, if you’re in for the longterm that shouldn’t be a problem!
