A major player in the cryptocurrency market has just withdraw 1,000 BTC ($ 8.4 million) from Bitstamp to an External wallet. Is this a sign that Bitcoin is accumulating?
The leading digital currency has held steady around $ 8,300 and seems to prove the mistake of many bears that have called for further breaks below $ 8,000. Instead, Bitcoin remains relatively stable and strangely low volatility.
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https://vakaxa.com/vi/cong-ty-thiet-ke-website-san-giao-dich-tien-ao-coin-tai-viet-nam/ With the stability of Bitcoin price, some whales are getting attention - it seems to be a clear sign that we are in a period of accumulation.
An individual earlier today transferred 1,000 BTC (worth about $ 8.3 million) from Bitstamp to an External wallet. Transactions recorded by Whale Alert.
1,000 BTC was sent to a whole new address. This means it has been specifically made to accumulate this BTC. As one user on Twitter wrote, this whale simply transferred their BTC to the "HODL wallet".
Bitcoin has proven resilient at this price level and fears of a collapse are regressing. Panic increased when Bitcoin posted a two-digit loss two weeks ago just a day after Bakkt was released. There were expectations of further price collapse, but this has not yet happened. Instead, we now have a period of time for traders to recover. Bitcoin remains stable and many large altcoins have broken out of support.
The stability of Bitcoin is good news for the entire cryptocurrency market. It has a cumulative period and is the time for other cryptocurrencies to keep up with Bitcoin. It remains to be seen how long this stable period will last before Bitcoin decides its time for again