Bitcoin Tests $10k As Mysterious Crypto-Trader Dip-Buys $400 Million
Content adapted from this Zerohedge.com article : Source
Bitcoin surged the past week closing in on the $10,000 mark. This is the first time in two weeks that it hit this level.
The move is bitcoin amounts to almost a 50% run-up from the lows.
Could it be that one buyer is primarily responsible for this move?
According to BitInfoCharts, a mysterious buyer with a Bitcoin address of 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased an astronomical amount of bitcoins worth $344,000,000 at a blended cost basis around $8,400 from 02-09-18 through 02-12-18. In total, this Bitcoin whale doubled down adding nearly 41,000 coins for a new total of 96,000 coins worth somewhere around $900,000,000 at today’s price ($9,400).
Bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 is number three on the top 100 richest Bitcoin address in the world.
The other factor in this recent move is the downplaying of the threat of a ban by the officials in South Korea.
Non-adatped content found at zerohedge.com: Source
It has been rising already 40% since BTC dipped below 6k. Even tough I was hoping for one more dip, it looks like the last chance to ge it soo cheap has past. They both are not backed by anything, but the breaking main difference between fiat and BTC is that fiat supply is unlimited and BTC supply is not. That’s the main difference that makes bitcoin go to the moon.
My friend was waiting for it to go down to 1k. I laughed at him and said no way is it going less than 5-6k. Now he is upset he didn't buy more at the dip too.
I totaly understand. I was laughed at when BTC was at 18k and I said I will start buying when we correct below 10k. The person responded “btc never goes below 10k, because it has limited supply” Well, he was right about limited supply, but he was wrong about correction. That’s the beauty about free decentralized market of Bitcoin. There is limited supply, but unlimited oprtunities. I love this market, it gives you hope unlike dying fiat.
It was impossible to shut down the Internet because the economy would go down the drain.History is repeating itself with Cryptocoins. They can't shut them down or the economy will fail. Crypto currencies are a blessing in disguise for when hyperinflation makes fiat funny paper worthless overnight, crypto will be the place to be providing the proverbial soft landing and preventing the doom and gloom tptb love to lay onto us to rule over us by fear. Get some cryptos, cheap ones preferrably and sit it out knowing you still have something of worth after the fiat toiletpaper crashes to zero.
It was impossible to shut down the Internet because the economy would go down the drain.History is repeating itself with Cryptocoins. They can't shut them down or the economy will fail. Crypto currencies are a blessing in disguise for when hyperinflation makes fiat funny paper worthless overnight, crypto will be the place to be providing the proverbial soft landing and preventing the doom and gloom tptb love to lay onto us to rule over us by fear. Get some cryptos, cheap ones preferrably and sit it out knowing you still have something of worth after the fiat toiletpaper crashes to zero.
This is incredible... one person influences the prices of all the cryptocurrencies in the market. It's unbelievable. I actually thought it's only the downplaying of the threat of a ban by the officials in South Korea that led to the bitcoin price rising to an extent of hitting the $10,000 mark.
This massive buying by the whales highly reduces the number of bitcoins in circulation which shakes up the market. And the few bitcoin whales who have massively invested are going to hold the bitcoins for a long time until the prices shoot to the very top.
Incredible but frightening at the same time.
If someone with that much money is confident, I'm confident. I kinda missed out on the low, no extra fiat lying around because I dumped all mine in in December and January, back in the green though! After buying into BTC and ETH when they were much higher.
Anybody have any thoughts on who this is?
This is the beginning of our path to the moon, but I still think we might see a new low coming, this time a higher low, but some new good opportunities to buy for those who have not yet.
If people where afraid that BTC and the crypto world was at risk of failing now we so many great news the confidence must be pretty high.
Big money is playing the system again, futures trading manipulation in my opinion. Expect a lot more of this in June when the New York Stock Exchange starts trading on Bitcoin Futures. Luckily if you're holding bitcoin now you will be in for a good ride this year and its very likely to go astronomical by years end.
I think that USDT has been printing more fake money because this is where fake token are being injected into the system and most developers that I know are running away as fast as they can from Bitcoin due to the lightning network banker hub.Now the only most trusted and stable cryptocurrency i believe is steem.
Steem Project Rebirth It's a very big future and much better than Facebook just asking for time
Great info @zer0hedge! Man, that dip was th perfect opportunity for a whale to be even more rich! I said it, the dip just means shopping time! January sales were dramatic but with this recovery, and I hope not stopping trend, everyone will regret not buying more.
Thanks for sharing!
This is really excellent, here is similar positive news towards what Keizer said "a healthy retreat" with commentator Alex Gurvich, that bitcoin has achieved a very solid foundation. While Keizer said in an interview with social media on Wednesday:
"If $ 10,000 is reached, this will make it easier to reach $ 50,000 this year"
"Fiz" warns of the decline of the market cap due to "greed"
Based on 9 February warnings about price resistance at or above the $ 10,000 level, Ton Fis pointed to a strong four-hour series of Japanese candlesticks that could indicate several candlesticks for the surrender phase, and that the warning was set for the current uptrend . He summarized his analysis on Twitter on Thursday, advising traders not to be "greedy."
It is difficult to determine the new momentum bitcoin, where the main announcement of the week from the Microsoft computer giant, pledging to support the so-called second tier scaling solutions such as "Lightning" as the best way forward to enhance the transaction capacity.
Thanks for sharing a very important topic.