130k+ BTC moved in Oct. Evidence of institutional investors coming in?

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Quote from: ineonota on November 06, 2018, 07:06:03 AM

It's been really interesting to see large net-worth individuals/groups buying up huge amounts of Bitcoin, roughly more than 130,000+ worth of BTC. That's worth at least US$830 million (as of today's price). Check out it here: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

the only thing that this link shows is that there are addresses that contain a large amount of bitcoin. and also most of them had these large amounts for a long time now. so your title saying X amount moved in October is wrong on both cases since they are not moved and these are not individuals for instance most of these addresses belong to big businesses such as bitfinex (which is a big exchange service)!
and any new address among them is most probably the same services moving coins to a new address after upgrading their wallet,... that happens pretty commonly.

dothebeats

legendary

Activity: 3542

Merit: 1352

It could easily be exchanges transferring money, mining firms or other rich dudes just trying to move their coins around. While it might not be a clear sign of institutional investors coming in, still it's great to know that someone holds that much and is not abandoning the ship any time sooner. With the prices being stagnant and always on the side of the lower spectrum, it's never a pain for these guys to buy in at this price range. Also. forget about any new ETF news. They aren't happening and they aren't even hyping the people up anymore.

jseverson

hero member

Activity: 1834

Merit: 759

Is this your source?

https://captainaltcoin.com/new-whales-are-here-somebody-bought-133k-bitcoins-in-the-last-4-weeks/

I would say that it's a leap to conclude that institutional investors are coming in just because of new whale addresses popping up, but I suppose it's a possibility. We don't even know for sure that they purchased their coins as they could easily be old whales consolidating.

Either way it does seem like we've hit bottom, so it really looks like the perfect opportunity to buy.

Nnuego

jr. member

Activity: 266

Merit: 4

Any major news now could spark excitement and could herald the coming of a bull run.
Bitcoin ETF approval would be a huge step, although I am not entirely sold to the idea that it is necessary for bitcoins global adoption.

ineonota

newbie

Activity: 42

Merit: 0

Bitcoin price has been relatively stagnant for awhile now. Could there be a sudden huge spike in these next couple of months? Especially if SEC gives its seal of approval for Bitcoin ETF this coming 5th November.

It's been really interesting to see large net-worth individuals/groups buying up huge amounts of Bitcoin, roughly more than 130,000+ worth of BTC. That's worth at least US$830 million (as of today's price). Check out it here: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

What do you guys think? Is this a sign of big things coming for the Bitcoin market? Could this be the perfect opportunity to buy in this "dip" before it "moons" in the next couple of months (or 1st quarter of 2019)?

Topic: 130k+ BTC moved in Oct. Evidence of institutional investors coming in? (Read 189 times)