cybersofts (OP)
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April 12, 2019, 01:29:18 AM |
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Crypto whale watchers are tracking a pair of huge Bitcoin transactions that moved a total of 20,378 BTC worth about $102.5 million. Both transactions happened between unknown wallets and do not appear to be traders gearing up to sell. 9,939 BTC worth $50.0 million transferred from unknown wallet to unknown wallet 10,439 BTC worth $52.5 million transferred from unknown wallet to unknown wallet The movements are part of a larger Bitcoin whale migration happening as the markets move into the red. In the last 24 hours, whales moved a total of 42,616 BTC worth about $215 million, at the time of writing. The vast majority of the BTC was moved off of crypto exchanges to unknown wallets, or from one crypto exchange to another. Right now, the crypto market is a sea of red. Bitcoin is down 4.86% at $5,036. Ethereum is down 8.61% at $164.77, and XRP is down 8.13% at $0.3285. Technical analysts say the market downturn is putting projections of a near-term BTC price rise to $5,800 on ice. According to CoinDesk analyst Daniel Paomer, the drop may have “thrown a spanner into a bullish market setup that had looked likely to propel prices to highs not seen since late last year.” Reference: https://dailyhodl.com/2019/04/11/bitcoin-whales-move-42616-btc-as-leading-crypto-tests-5000-btc-ethereum-xrp-litecoin-forecast/
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livingfree
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April 12, 2019, 06:44:56 AM |
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That's a lot of bitcoin, real whales found.
So this move triggered the market to put bloods on the streets again. Soon, we wll find out on who are these whales that bought or transferred that amount to an unknown wallet.
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maydna
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April 12, 2019, 07:33:56 AM |
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That's a lot of bitcoin, real whales found.
So this move triggered the market to put bloods on the streets again. Soon, we wll find out on who are these whales that bought or transferred that amount to an unknown wallet.
I don't think they will reveal themselves to the public because that is related to the big amount of bitcoin that moves to another wallet. It is too risky to tell the public who are the whales. But I am not sure that is only one person who moves the bitcoin to another wallet because we don't know either who has the wallet address which receiving that bitcoin. But I am curious about what will happen in the market after that moment. I hope that it will not give a big impact on the market and bitcoin price will still increase in the next week. I see now the bitcoin price try to increase the price like before and I hope that it will rise again and increase to the higher price.
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jademaxsuy
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April 12, 2019, 07:42:56 AM |
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Well if the analysis of the experts were right that it could turn to almost 6K usd next cycle then whoever that whale dumping that huge BTC should regret for his/her btc became an instrumennt through bull run or the recovering of bitcoin market.
Anyway, I just can't believe that there whales are really existing basing on this huge BTC being moved. If this is an individual then surely he can buy the girls around the globe with beers and delux life living. Good for him/her for that wealth. But, I am also thinking that this could also be a group of people that owns the btc and will be going divide after its liquidity.
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dothebeats
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April 12, 2019, 03:13:04 PM |
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That seems to be odd, though it certainly triggered a lot of sells for today. Earlier this day, bitcoin was still trading for over $5200 and we have drooped under $5000 for some time until returning to the said range. Idk why would a whale be exposing himself in the open if all they want to do is just move funds around. They could have used some discreet methods of moving their funds from A to B without causing such a stir--or maybe it was planned all along. Anyhow, some traders have already reacted to the said event and could have been much worse if those coins were dumped directly into exchanges.
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Kemarit
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April 12, 2019, 03:22:21 PM |
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I don't think this is the real reason why the price suddenly go down. I mean, the whale didn't sell right? It was just a moved although It was caught by crypto whale watchers. Probably he/she wanted to secure his funds, thus moving it right it front of us. I guess the real reason for the sell-off is that speculators just booking profits at $5300, too much of a mental barrier for most of them. The thing is after the selling, the price is looking solid at $5000 range and could really be the new lows.
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pushups44
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April 12, 2019, 03:39:27 PM |
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It looks like the demand for bitcoin among whales is outstripping the amount minted on a monthly basis, and that a lot of this activity is being done on over the counter exchanges so as not to impact the quoted prices. This is a good sign because after the next halving, it will be much more difficult to make such transactions without moving the market.
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Adriano2010
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April 12, 2019, 03:47:14 PM |
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If all this coin will be selled little by little can cause some price drop, but if only a part of coin will be selled to get more bitcoin at cheap prices, then is very possible all bitcoins to be transferred back to whale wallet.
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klaaas
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April 12, 2019, 04:46:02 PM |
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That are big numbers that are moving around. They would be crazy if the amounts are correct to leave it at a exchange. Sure it will flow back inn somewhere again.
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mrdeposit
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April 12, 2019, 04:48:00 PM |
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Here we go again Whales are waiting eagerly for such momentums in the market and they are able to realize the quick facts. After the expected dump, we should ride the new wave of a bear trend, unfortunately.
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mangsitin
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April 12, 2019, 04:57:13 PM |
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That is a very large amount, so if the amount of Bitcoin is sold everything will result in a very deep decline in prices, but now prices have started to stabilize again in the market, after yesterday's decline, and I hope there is no further decline
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[btc]YSG
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April 12, 2019, 05:08:24 PM |
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That is a very large amount, so if the amount of Bitcoin is sold everything will result in a very deep decline in prices, but now prices have started to stabilize again in the market, after yesterday's decline, and I hope there is no further decline
I'm not movement of bitcoin between wallets is synonymous to selling them, If they were moved to an exchange I'm very selling of such amount of Bitcoin would have had a huge negative impact by now.
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stompix
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April 12, 2019, 05:29:01 PM |
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Checking a few transactions that are marked to be from or to "unknown" whales makes me think most of those are internal transactions done by exchanges from their cold wallets to either hot wallets to make payments or to other storage. Also, check this one labeled as "unknown" to binance" https://www.blockchain.com/btc/address/3AAutrR6nVkQmiminewAnp2JXg8yvQBG9bBut in fact, the source for the funds is https://www.blockchain.com/btc/address/34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseowhich is actually...also binance's cold wallet
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LeGaulois
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April 12, 2019, 05:29:28 PM |
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Does anyone remember any news this week about a "mysterious order"? There's a lot to question, isn't there?
This type of transaction with such a sum will become commonplace over time. The same thing happens several times a day with fiats. What is interesting is that some of these bitcoins have been transferred from one trading platform to another. In this case, the coins came out of several exchanges such as Kraken, Coinbase, Huobi and to go mainly to Binance and Bittrex.
Now the question is: what is special about these two exchanges? It can not be for cheap fees, KYC convenience, or great UI,...
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kryptqnick
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April 12, 2019, 06:24:48 PM |
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That's a lot of bitcoin, real whales found.
So this move triggered the market to put bloods on the streets again. Soon, we wll find out on who are these whales that bought or transferred that amount to an unknown wallet.
Is it a lot, though? First of all, how do we know that all of the money was really moved by so-called whales? The post only talks about the half of it if I'm not mistaken. Secondly, I really don't understand how this kind of money can even make a difference. Bitcoin's trading volume is currently almost 14 billion dollars. $215 million is only around 1.5% of it. Can such a percentage really be attributed to whales? I mean, aren't whales supposed to be huge and stuff? And how can such a share even affect the market in a significant way? My thought is that it can't, and whales are not controlling the market.
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mersal
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April 12, 2019, 07:38:00 PM |
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What I am thinking is it is enough to prove that Bitcoin has the ability to to overcome the difficulties in any kind of difficult situation and it make the point to be more stable and more fixed with its position to development and it made it simply in this year.
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akram143
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April 12, 2019, 08:49:11 PM |
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At now Bitcoin is the leading cryptocurrency and valuable currency in the current market situation and it will trying to reach $6,000 in this month but the value is still struggling to be a good development but the Bull Run is possible right now so it may be developed in the end of this year.
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cryptjh
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April 12, 2019, 08:59:54 PM |
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Moving bitcoins around can mean many things like someone thinks his coins are more save in a new wallet or a private sale where no exchanges were involved. The great thing with bitcoins is that you can send $50m with less than $1 in fees, to the other side of the world and they will arrive shortly after you send them. With Fiat, this would take days and the fees would be enormous if it was a cross border payment.
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Naida_BR
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April 12, 2019, 09:08:46 PM |
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I was expecting to see a red day after this time that the market was growing. The good thing is that the bitcoin price is tested and that there is a significant resistance at 5k now. If we continue like we do now, I think that we are going to see more growth in the future.
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1Referee
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April 12, 2019, 09:24:21 PM |
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It's quite funny how people go nuts over a few coin movements. In most cases when we see these movements nothing happens; orderbooks don't change, short/long ratios don't change, etc. It's such an easy way for news outlets to try to scare people thinking there will be a dump or whatever. Just get over it. The most obvious hoax articles were how news outlets made people believe there was a whale holding over 500,000BTC, which later turns out to be Coinbase relocating their funds, and it turned out to concern almost 900,000BTC in the end. The whales news outlets refer to are mostly exchanges or other large services, but that's not nearly as exciting as a mysterious whale "accumulating" or "dumping" an insane number of coins. These Twitter whale watchers are cool and all, but take them with a truckload of salt. It wouldn't even surprise me if exchanges mix their coins by sending them to X exchange and receive the same amount back from Y exchange.
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