More than 608k BTC was moved from dormant wallets!

[Greed Dev]

Some people have bought BTC since it was just opened and now they have lost their private-key.
Our forum has a lot of topics talk about regret when it loses private-key. So we need to be cautious about keeping private keys to avoid future regrets.

[duyduc256]

608k of bitcoins is a large amount.
I am hoping what I read is untrue. If this is seen by small hodlers then a big wave may come again producing a large panic that even .1btc holders might make a difference to this value by now.

I still dont get it. Is this really the enough value for them to suddenly withdraw their bitcoins which is the future of currencies and also a part of the new world technology.

I just also hope they dont regret it. Those movements could really cause a lot before the end of the year, for many are still hoping that history will repeat itself.

Everyone is hopeful that all altcoin will recover and it will be very difficult because everyone's belief in this market has dropped a lot in the past time. If we want to repeat the calendar, we need more investors and more news will make investors feel more secure in this market.

[proTECH77]

These days no entity has the power to read bitcoin price nor to speculate it price surge but only time and research now does. Movement of such funds are more dangerous to the bear market now but the reverse is the case, as the movement in the market never slack movement since last couple of days back. Those funds might be from the Exchange which are held by the owners of such exchange for the purpose of renovation or upgrade of systems.

[Findingnemo]

These days no entity has the power to read bitcoin price nor to speculate it price surge but only time and research now does. Movement of such funds are more dangerous to the bear market now but the reverse is the case, as the movement in the market never slack movement since last couple of days back. Those funds might be from the Exchange which are held by the owners of such exchange for the purpose of renovation or upgrade of systems.

Maybe,it is from exchange but if it is inactive for too long then chances of whale's wallet is more.Which brought the prices increase happening for the last 24 hours?

Just be patient and let's wait for the more bull to wake up.

[Ziskinberg]

It's a good decision that this big amount were not traded in an exchange.
I think that with this amount, you cannot trust exchange on it and it will certainly affect the price that might lessen the value of your expectation.
Those who bought that amount is a whales and maybe one of the reason on the current bullish run now, I hope this is not a trap though.

[Renaldi blackspadeteam]

I say thank you very much for conveying useful information and this news has scared me to trade other bitcoin and crypto, the big whale can reduce the price of bitcoin at any time, preferably I must still be vigilant.

[gabmen]

These days no entity has the power to read bitcoin price nor to speculate it price surge but only time and research now does. Movement of such funds are more dangerous to the bear market now but the reverse is the case, as the movement in the market never slack movement since last couple of days back. Those funds might be from the Exchange which are held by the owners of such exchange for the purpose of renovation or upgrade of systems.

Maybe,it is from exchange but if it is inactive for too long then chances of whale's wallet is more.Which brought the prices increase happening for the last 24 hours?

Just be patient and let's wait for the more bull to wake up.

Well that's a good point though i hope you're right lol. Not being a pessimist here but this year's been fooling us with false expectations so it won't hurt to keep neutral about it.

[davinchi]

I doubt it was moved to be sold, no one in their right mind would sell that much amount of bitcoin at once. They wouldn't even sell it all in a month or even a year. Even a 30 thousand bitcoin sell off created a trickle that eventually turned into bitcoin losing almost 50% value, if you decide to sell 600k bitcoins all at once than you would lose almost 90% of your portfolio and money.

If you ever wish to sell that much coin you have 2 options, either sell small amounts constantly which would create a pressure on the price and hope that some bull run would happen meanwhile and you can sell on different exchanges all together. Better option would be selling OTC to some rich person on wall street for cheaper than what it is right now for example selling all 608k for 3k each right now and you would be rich but that person could benefit from it in the long run.

[BitHodler]

Not being a pessimist here but this year's been fooling us with false expectations so it won't hurt to keep neutral about it.

I don't think the market has fooled anyone. In fact, I'm sure that people fooled themselves with their unrealistic expectations from a market that's trying to bottom out after one of the wildest bull runs ever.

I cringed every time people back when the price was hovering between $6000-$7000 said that it was very low and we couldn't fall below it due to miners needing $6000 at the very minimum.

The only thing that surprised me is how fast it went down from $6000 to $3000 without any strong rebound attempt. Maybe people were so in panic, that they sold like there was no tomorrow. Brutal sell off it was.

[o_e_l_e_o]

I say thank you very much for conveying useful information and this news has scared me to trade other bitcoin and crypto, the big whale can reduce the price of bitcoin at any time, preferably I must still be vigilant.

Except it wasn't a whale at all, the coins won't be sold, and the price won't be affected.

All these funds belong to Coinbase, who have recently upgraded their cold storage infrastructure and were moving all their coins from their old cold storage to their new system. These movements were announced a few weeks ago prior to them happening, and they have now announced the movement has finished:

https://blokt.com/news/coinbase-talks-about-the-largest-crypto-transfer-on-record

[Renaldi blackspadeteam]

I say thank you very much for conveying useful information and this news has scared me to trade other bitcoin and crypto, the big whale can reduce the price of bitcoin at any time, preferably I must still be vigilant.

Except it wasn't a whale at all, the coins won't be sold, and the price won't be affected.

All these funds belong to Coinbase, who have recently upgraded their cold storage infrastructure and were moving all their coins from their old cold storage to their new system. These movements were announced a few weeks ago prior to them happening, and they have now announced the movement has finished:

https://blokt.com/news/coinbase-talks-about-the-largest-crypto-transfer-on-record

Thank you very much, if you don't tell me this, I might stop trading bitcoin and other crypto ...,
I think the big whale is preparing to reduce the price of bitcoin at the right time, but I like to hear from you because 608K bitcoin it's not for sale