Bitcoin Whale Sold 9,000 BTC After 2 Years HODLing

[bitcoinst]

A Bitcoin whale, who accumulated 9,000 BTC in late 2018, has sold after 22 months and two capitulation phases.

A Bitcoin (BTC) whale — an individual investor who holds a large amount of BTC — took profit after two years. Data from Whalemap suggests the whale purchased nearly 9,000 BTC in the third quarter of 2018.

The whale held on to the BTC for nearly 22 months, through two major capitulation phases. Bitcoin dropped to sub-$4,000 level twice, first in January 2019 and second in March 2020. The investor waited through both periods, ultimately selling at around $12,000.

https://cointelegraph.com/news/this-bitcoin-whale-sold-at-12-000-btc-price-after-hodling-for-2-years


Who said that bitcoin is no longer profitable?  

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[Sanugarid]

I'd do the same if I were him, it's been almost 2 years so why not taking my profit out of it.

Investors like him could have a target price range and volume, possibly he sees it is reaching his target so he sold it at $12k.

9000x12000 is $108,000,000 upon this basic assumption this is a very huge dumping made, would this also create a huge plunge in bitcoin price? any math geek here?

[carlfebz2]

9000x12000 is $108,000,000 upon this basic assumption this is a very huge dumping made, would this also create a huge plunge in bitcoin price? any math geek here?

Im not good in math but $100M wont really make out some significant impact on Bitcoins price in the market.So this one wont really be that much to worry on.

Back to talk into that whale. This one resembles on how patience do work. 2 years wont really be that easy specially if you do saw when market prices do take hard plunges and repeating the same
movement over the past years.

This do really involves strong self-discipline on following up your target or profit area and this time had come on which it really did pays-off specially if he do able to accumulate on very low levels.

[Sanitough]

9000x12000 is $108,000,000 upon this basic assumption this is a very huge dumping made, would this also create a huge plunge in bitcoin price? any math geek here?

Im not good in math but $100M wont really make out some significant impact on Bitcoins price in the market.So this one wont really be that much to worry on.

True, because bitcoin daily trading volume is now around, $25 billion, so that would only be 0.40%, not even 1%, so you are right, there's no significant effect on the market.

Back to talk into that whale. This one resembles on how patience do work. 2 years wont really be that easy specially if you do saw when market prices do take hard plunges and repeating the same
movement over the past years.

This do really involves strong self-discipline on following up your target or profit area and this time had come on which it really did pays-off specially if he do able to accumulate on very low levels.

You forget to say the "TRUST" in the bitcoin as an investor would not hold that long if he did not trust bitcoin considering we have lots of dumped happen in 2018 and 2019, and even this year in the early going.

[Bitcoin_Arena]

Back to talk into that whale. This one resembles on how patience do work. 2 years wont really be that easy specially if you do saw when market prices do take hard plunges and repeating the same
movement over the past years.

This do really involves strong self-discipline on following up your target or profit area and this time had come on which it really did pays-off specially if he do able to accumulate on very low levels.

Yep, patience pays in crypto especially when one has bought the deep but lets not forget how easy it is to HODL when one has lots of money. One doesn't have to worry much about their bitcoin stash or look at it's value with every price change every day. IMO someone who bought bitcoins worth the few $1,000 and had to wait for at least 2 years to cash out is surely someone with strong self discipline.

[Oasisman]

Who said that bitcoin is no longer profitable? 

Ha! Who ever said that has no idea what Bitcoin is capable of.
Well, he might have sold early considering how everyone in crypto space and even in crypto twitter has been very bullish now a days. There's a very huge chance Btc could reach and break the last ATH on the 4th quarter this year or in 2021. Post halving hype, the fall of USD, bullish predictions, and the growing number of Bitcoin adoption are just some of the main factor to consider why Btc will hit new heights in 2021.
I know it isn't easy to hold such patience, specially when you're holding that huge amount of Btc for almost 2 years, but he could've doubled the $12,000 worth of Btc in the next few months.

[sheenshane]

As an investor, we should have the word "PATIENT" and "TRUST" so that we have the courage to wait the perfect time to take our profit.
I remember the 3rd quarter of 2018 that's the price went down too much and a good thing to accumulate Bitcoin. And now, you will probably happy seeing your profit was there. I would do the same as the big whale decision, good for him.

How about now and the following years? Of course, there's nothing late in Bitcoin investment. It might another 5 years from now it will fold for how many times more than you have expected. So, be it.

[ololajulo]

There was no information of how much he sold. I have concern on those monitoring all this whales account what benefit does it bring. Taking few profit from this investment can be for a reason. I can attempt buying into other coin but I dont think this dropped that price of bitcoin. The market is more active than at the beginning of the year and accumulation of bitcoin still continues. I believe every whales at this market have expectation in terms of price and nobody knows the time of the peak of bull run and the time of the bull run, so a little profit taking is allowed.

[Yamifoud]

Time doesn't really matter if we know that this coin that we hold will grow. People who have patience and seeing its potentiality will never think about 1 year, 2years, or even more, he can still wait for the price to increase and meet their goal.

Buying Bitcoin at $9k and sold at $12k? He got what he wants and being patient for that long (2 years) is worthy. We all don't have that kind of perspective but most of us sell it immediately once seeing that they also gain a few bucks.

This person is willing to risk and lose his money, and most importantly he knows that Bitcoin will soon pump and make money from it. He never loses his positivity despite that long wait and it drives him to keep patience than get nothing.

[Finestream]

There was no information of how much he sold.

It was in the OP. He sold 9000 BTC at $12,000 each, so that's around $108 million but there is no specific amount on how much he profited but still it's inspiring as he hold for 2 years and earn some significant profit, and this proves investing in bitcoin brings profit as long as you do it with timing.

Good timing to accumulate and to sell.

Here, he wasn't greedy to wait until bitcoin will reach its ATH as for sure when bitcoin drop again, he will start to accumulate.

This person is willing to risk and lose his money, and most importantly he knows that Bitcoin will soon pump and make money from it. He never loses his positivity despite that long wait and it drives him to keep patience than get nothing.

That's what whales do, they have calculated the risk already.

[coupable]

There was no information of how much he sold. I have concern on those monitoring all this whales account what benefit does it bring.

There was no information to confirm the full story. Full article mentioned in op, made by coindesk, was written based on a tweet shared by someone called "Byzantine General" without a single proof that this did really happened. The full tweet was a chart image of btc price and this text:

This whale is a legend.

See that big bubble around 6k in 2018?

That's almost 9k BTC that was accumulated there.
He finally took profit, after 2 years and 2 major capitulation events.

Link to tweet: https://twitter.com/ByzGeneral/status/1297449142353092609
In this reply to the tweet, Mr "Byzantine General" seems not to answer properly on how he got the information about that whale or even how he knew he is a whale:

https://twitter.com/CarlesMassa/status/1297476603153350656

Am i missing something here?  

[livingfree]

Let's take into context that the whale has sold at $12,000. He made it and congratulations to him. What's the difference is that he's being described as a whale.

But in all reality, many of us even sold during the $12,000 or at least have made profit when bitcoin reached back to that price.

Who said that bitcoin is no longer profitable? 

Those who have no bitcoin anymore. 

[bL4nkcode]

If it's true, then that would be super worth it if s/he bought those on $3k range and sold for todate price. Anyhow seems btc still good at 11kish, so nothing to worry of this dump.

[Nellayar]

A Bitcoin whale, who accumulated 9,000 BTC in late 2018, has sold after 22 months and two capitulation phases.

A Bitcoin (BTC) whale — an individual investor who holds a large amount of BTC — took profit after two years. Data from Whalemap suggests the whale purchased nearly 9,000 BTC in the third quarter of 2018.

The whale held on to the BTC for nearly 22 months, through two major capitulation phases. Bitcoin dropped to sub-$4,000 level twice, first in January 2019 and second in March 2020. The investor waited through both periods, ultimately selling at around $12,000.

https://cointelegraph.com/news/this-bitcoin-whale-sold-at-12-000-btc-price-after-hodling-for-2-years


Who said that bitcoin is no longer profitable? 

He is really a whale. Imagine, he tripled his investment for just 2 years. However, he will regret when bitcoin reach its ath or break it. I think this bitcoin holder is a businessman which need to pull out his investment to get back his track with his other businesses. But who holds it is not a big deal, but how bitcoin made a person more successful. This is a slap for those people and speculators who said that bitcoin will devalue during the year 2018. He bought the FUD and he sold FOMO of other people.

[gentlemand]

If you've gotten this far and many signs are pointing towards further special moments in future AND you've weathered by far the worst of it it seems a bit strange to me, however he must've somewhere around tripled his money and that's likely to be more than most people will ever need. If I were in the same position with similar amounts I'd probably dispose of half, netting a still decent profit and all my outlay, and the let the rest ride.

[CaVO32]

9000x12000 is $108,000,000 upon this basic assumption this is a very huge dumping made, would this also create a huge plunge in bitcoin price? any math geek here?

Im not good in math but $100M wont really make out some significant impact on Bitcoins price in the market.So this one wont really be that much to worry on.

Back to talk into that whale. This one resembles on how patience do work. 2 years wont really be that easy specially if you do saw when market prices do take hard plunges and repeating the same
movement over the past years.

This do really involves strong self-discipline on following up your target or profit area and this time had come on which it really did pays-off specially if he do able to accumulate on very low levels.

It is not easy if you are relying to live with that funds. So this person has the luxury to wait for couple of years before cashing out. Not many people have that privilege. As he already reached his target profits, he sold it even knowing that later on he will get more. Practical in my opinion. Because a lot of people will wait more. That's when greed is in play.

Interesting why he finally decided to cash out? Maybe another crypto investment or business. Such amount will incur huge fees if it is in fiat but crypto made possible to just pay for small fees.

[LogitechMouse]

~

Maybe this is one of the reasons why Bitcoin is at around $11,100 already right . Good for him as he manage to hold his coins despite of Bitcoin going down twice to at around $4,000 level.

Who said that bitcoin is no longer profitable? 

F*ck those people who are saying that Bitcoin isn't profitable anymore .
I knew it already that Bitcoin is profitable short, mid and long term. It will just depend on the skills you got. You good at trading then you can get profit short-mid term and if you are just an investors you can get profit mid to long term .

[Velkro]

A Bitcoin whale, who accumulated 9,000 BTC in late 2018, has sold after 22 months and two capitulation phases.

Its very random news. I mean there are tons of whales that got burned by investing in bubble and selling with loss.
We only filter news we want to see, that is very misleading and its hard to get any conclusions from such news.
If many many many whales would do the same, that could be some indication of news we don't know yet or else.

[Wexnident]

Well, it has been 2 years. Heck, even if he sold at around 3rd or 4th month of this year, the profit would've been more or less the same. He actually lost out since if he sold by then, bought again when Bitcoin went down to $4k, then sold again now, the profit would be twice or more of what he has right now. Though you can't really say that this would happen back then, so it's understandable why he couldn't/didn't do as such.

I'd do the same if I were him, it's been almost 2 years so why not taking my profit out of it.

Investors like him could have a target price range and volume, possibly he sees it is reaching his target so he sold it at $12k.

9000x12000 is $108,000,000 upon this basic assumption this is a very huge dumping made, would this also create a huge plunge in bitcoin price? any math geek here?

Probably a bit? But not so much. It's like two to three drops in the big ocean. It'd make a ripple, but it shouldn't even make lasting effects to the market. He probably just wanted to reach the barrier of $100m before exiting, might have been his original goal back then when he bought that amount.

[meanwords]

Who said that bitcoin is no longer profitable? 

Those who always lose on trading because he doesn't know anything about it lol.

Keep in mind that some might win but more are losing in trading. That whale only profited because he was smart enough to invest in a dumping phase and sell it high at around $12,000. As of now, Bitcoin is losing price again which means a lot of people who invested around $11,800 lost money.