Post
Topic
Board Bitcoin Discussion
Re: A whale transferred 4,500 bitcoins to Binance; Is the price drop close?
by
wxa7115
on 27/08/2020, 17:05:26 UTC
4500 is not a big amount though. I bet there are thousands of people who have more than 1000 bitcoin. I guess it will not make any change in the price of bitcoin since right now, I believe that the uptrend is having a good momentum. Maybe this whale wants to make a short profit before a big jump. As you can see, bitcoin has surpassed $11000 which is one of the strongest resistances. People are buying bitcoin as well as gold because they have fate in this digital asset

Many governments and companies are considering to utilize the blockchain in their system. This will make a huge impact on the cryptocurrency world.
That amount by itself is not really going to crash the price however it could be a sign, if someone that has so many bitcoins is moving them with the apparent intent to sell then this could tell us something about the possible movements of bitcoin in the future.

However as we know whales themselves do not move in unison, each one has their own plans of what they want bitcoin to do so it is entirely possible that such movement is nullified by an even bigger whale which buys all of those coins at the market price and does not allow the price of bitcoin to go down at all, in which case this could become a positive signal for the price as this will imply that even more powerful investors disagree with the view of this particular whale.