Re: A transfer of 249.999 BTC happened just now, really amazing
This might suggest that there will be a surge for BTC and other cryptocurrencies?
why "other cryptocurrencies"? this is bitcoin moved
and no it does not suggest that at all. neither does it suggest a drop. people always tend to get over excited about seeing a large amount of bitcoin moved (this is not large though lol).
generally all you can say about these transactions is either:
- a service is moving coins in or out of their cold storage like exchanges combining lots of inputs into one and putting it in one place
- a whale bought some coins and moved it to their cold storage. which is usually them buying coins off the market so that they don't push the price up, they keep it low while buying elsewhere...
If there is upward move of BTC, its quite obvious most of the alt coins will also move upwards as BTC is still the king.
Moving this amount by 53rd largest address in order of holding BTC may be for anything, it may be a cheap buying for long hold, nothing can be denied.
Market is in a deep downtrend for last 11 months, there are chances of market upward move anytime now.