One Twitter account has been picking up a bewildering number of Bitcoin transfers of $410M cycled through many wallets. The reason still remains a mystery.
Large transfers of Bitcoin are expected, but recent on-chain movements have been raising eyebrows. One large market player has been moving $410M between addresses, incessantly. In total, nearly $10B in BTC has been moved back-and-forth in just 15 minutes.Read the full news hereAnother one of many Bitcoin and crypto whale alert here!For me, this is a such a huge amount worth of Bitcoin to be moved in another address in only 15 minutes. However, it's still a mystery whatever the reason is.
These whales are just fortunate enough to accumulate Bitcoin during the early times. Until now, I still regretted in doubting about investing in Bitcoin years ago.
Correct me if I'm wrong, but these whales know what they are doing. They are here for the long-term since they have enough BTCs in their arsenal, especially the next year's halving. However, I would not really count on halving's guarantee of BTC's price pump.
The really scary part is this, what if these whales suddenly decided to all cash out one day? What would happen to the market volatility? Just a little transaction and people fly into Fear, Uncertainty and doubt. I think that the whales know that they play an influential share in the market price movements. Bitcoin may be decentralized but a few early birds still control a lion's share of Bitcoin. This is why the early bird catches his worm, imagine investing when bitcoin was worth a few cents? You too would be considered a whale at this point.