Bitcoin Whale Alert Activity is Picking Up as Last 24 Hours Sees $240 Million Moving on the Blockchain
- A number of crypto analysts are now trying to figure out whether or not this mammoth asset shift will have a significant impact on the price of Bitcoin moving forward.
- Regardless of all the ongoing confusion, ThinkMarkets’ Naeem Aslam believes that BTC will surge past the $10k mark within the coming few weeks.
Since yesterday afternoon, crypto whale watchers have discovered that a whopping sum of 28,025 BTC — which is estimated to be worth about $242.8 million — has been moved to new addresses. In this regard, the single largest transfer that was recorded during the aforementioned time period saw a total of 6,067 BTC move between two unknown wallet destinations.
🚨 🚨 🚨 🚨 🚨 6,067 #BTC (52,967,923 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) May 28, 2019
A total of 13,156 BTC (worth approx. $113.6 million) was moved from Kraken to a number of unidentified wallet addresses. Not only that, all of these xfers took place within a period of just 4-5 hours.
At press time, Kraken’s executive brass has not released any message regarding this entire episode, which points to the fact that this move may have been facilitated by a single trader.
Also, over the course of the last 24 hours, a couple of crypto whales moved 4,328 BTC and 4,474 BTC respectively between unknown wallets. These tx’s were not facilitated to any particular exchange — thereby indicating that the traders might not be interested in selling their assets.
Talking about the future of the crypto market, Naeem Aslam — chief market strategist at ThinkMarkets — was quoted as saying:
“If you are not ready then get ready, because the price of bitcoin is about to blast past the $10K level, recovering half of its losses from it's all-time high, a real embarrassing moment for those who said that the currency will never recover from its losses.”
In closing out this piece, it should be pointed out that Bitcoin’s technical indicators at the moment are extremely positive. It now remains to be seen what the future has in store for this burgeoning market sector.