Despite Bitcoin plummeting in value, it seems that whales havent lost their appetite. One major BTC whale just withdrew 12,000 BTC ($89M) to an external wallet.
The market is in chaos today as Bitcoin experienced another double-digit drop. Just a week ago, Bitcoin was trading at $8,700 it is now trading at around $7,100. For the first time since May 2019, the market capitalization of the entire cryptocurrency market is under $200B. According to the Crypto Greed & Fear Index, the current sentiment is one of Extreme Fear.Source link hereLook guys, I know how it feels when we are in a bloody market. Correct me if Im wrong, but there will be two scenarios about this Bitcoin whale:
Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.
Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.
If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!
Perhaps this whale has a much more profitable business that currently requires investment. Bitcoin account was his reserve and now it's time to withdraw Bitcoins. There are much more than two scenarios, but most likely it was a necessary measure since the whale lost millions of dollars