The crypto whales move again, as the price of Bitcoin is about to reach the USD 10,000 mark once again. The price of Bitcoin stands at $ 9,761.95 at this time, while the maximum is not only the monthly but also the quarterly at the same time.
Bitcoin enthusiasts are hoping that the cryptocurrency will emerge above the psychological limit of the USD 10,000 mark in a few days, and previous predictions expect this to happen by February 15.
Looking at the trend line in the Bitcoin price chart above, it is clear that the cryptocurrency community is pushing Bitcoin a lot.
Are crypto whales moving the price of Bitcoin?
Three crypto whale movements have been reported today with Bitcoin. The first was for 1300 BTC from an unknown wallet to Coinbase. Also, we have another one for 1000 BTC from OKEx to an unknown wallet. Another crypto whale moved 519 BTC from Binance to an unknown wallet.
Whale alert It also registered large transactions of more than 49,000 BTC among unknown wallets. The impact of them, although of enthusiasm, is unpredictable. On the other hand, although these movements do not directly affect the price of Bitcoin, they support the feeling of greed that prevails in the market.
The market showed a neutral position at the end of February 5, 2020. While the last hours of February 6 show an increase of 8 points by 61%. Bitcoin whales are believed to be the true driving force behind the big market swings.
Also, these crypto whales are playing with the Fear of Missing Out or “fear of missing the train.” So far, the latest movements of crypto whales seem to be giving the push that was missing at the price of Bitcoin to be located above the USD 10,000 barrier.
Without a doubt this upward trend has been driven for several weeks, and many analysts have said a lot about it. Some attributed it to halving, others to Coronavirus and even a mixture of these two areas and the action of crypto whales.
Degree in Liberal Studies from the Metropolitan University. Lover of innovation and believer of technology for the future.