Mysterious Bitcoin whale moves 15,022 BTCs worth $162 million
- 28th July 2020
- Posted by: Hakeem
- Category: CryptoCurrency
BTC whales have been moving large stacks of BTCs lately, triggered by the recent bullish momentum in the BTC market.
According to data obtained from BTCBlockbot, a crypto analytic tracker, an unknown whale moved 15,022 BTC in block 641,074, estimated to be roughly worth about $162 million, about 10 hours ago.
How easy is it tracking BTCs?
It should be noted that Bitcoin is not really anonymous, because all BTC transactions are kept permanently and publicly on the blockchain or ledger system. This makes it very easy for anyone to see the transactions and balances of any BTC address.
According to data obtained from Coinmarketcap, Bitcoin traded at $11,000 with a market capitalization of $202 billion, at the time this report was drafted.
Quick fact: At the BTC market, investors or traders who own large amounts of Bitcoins are typically called Bitcoin whales. This means that a BTC whale would be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.
As BTC whales accumulate BTCs, the circulating supply reduces, and this can weaken any bearish trend Bitcoin finds itself in. What this means in essence is that over time, as BTC approaches its fixed supply of 21 million, it’s possible that the price of BTC will go up, with BTC’s present demand factored in.
Although it is difficult to predict market movements, Bitcoin whales have shown historically that they often determine Bitcoin’s trend.