Skip to content

News   /   QQQTrades.Club

Bitcoin Whale Emerges!

Bitcoin Whale Emerges!
March 28, 2024

A Bitcoin whale moved 2,000 BTC that had been dormant since 2010, but this action had no noticeable effect on Bitcoin's price. Typically, such large movements can cause market apprehension, yet this time it was completely ignored, suggesting Bitcoin's price is currently independent of such news.

A Bitcoin whale moved 2,000 BTC that had been dormant since 2010, but this action had no noticeable effect on Bitcoin's price.

Typically, such large movements can cause market apprehension, yet this time it was completely ignored, suggesting Bitcoin's price is currently independent of such news.

QQQTrades.Club is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

The 2,000 BTC, now worth about $140 million, were mined between August and November 2010, highlighting a significant hold period of 14 years by the whale.

This period was when Bitcoin mining rewarded 50 BTC per block, making it feasible to accumulate large amounts of Bitcoin with less sophisticated equipment.

The owner of the BTC is speculated to be a member of the early cypherpunk community rather than an exchange, given the mining background and the era’s limited exchange activity.

The whale has been active in 2024, moving 5,000 BTC in March alone, worth approximately $350 million, suggesting a pattern of significant transactions without impacting the market or exchange wallets noticeably.

Despite the whale's movements, Bitcoin's price remained relatively stable, lateralizing around $70,000, unaffected by these transactions but influenced by other market events, such as reactions to legal developments involving Coinbase and movements in the US stock market.

The price of Bitcoin had rallied to a new all-time high of $73,800 in early March but has since been trading sideways, with speculation that this trend may continue until at least the end of the month, possibly breaking with significant movements starting next week.

QQQTrades.Club is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Share this article:

More in QQQTrades.Club:

Exploring the Impact of Bitcoin A Five-Year Analysis

In the dynamic world of finance, the relationship between cryptocurrencies and traditional stock markets has always been a topic of...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
March 27, 2024

Exploring the Impact of Bitcoin

A Five-Year Analysis

A Five-Year Analysis In the dynamic world of finance, the relationship between cryptocurrencies and traditional stock markets has always been...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
March 27, 2024

Best of US Investors

Platinum Channel Swing Trading has EPIC Year in 2023

Experience remarkable trading success with the Platinum Channel! In 2023, our Swing Trading Program showcased an outstanding performance. With a...

Mark Willet in front of stock market with bull background

Mark Willet
January 7, 2024

‘I’ll Just Ride it Out’

Buy and holders justify losing money

Buy and holders justify losing money Yesterday I was in Birmingham visiting family and decided to go for a mountain...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
October 26, 2023

Markets Becoming Predictable?

How Market Markers Hedge

How Market Markers Hedge From my point of view, it is. Much of the market's predictability is due to the...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
October 24, 2023

Field Curve is Flattening | Recession Ahead?

This was meant to go out on Monday

This was meant to go out on Monday The yield curve has been much ignored here recently after its sizable...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
October 24, 2023

Register for the Best of US Investors Newsletter

Get daily financial news delivered to your inbox. Join today.

©2024 Best of US Investors. All rights reserved.

Site by KMA

Disclaimer

This Best of US Investors website is not and should not be considered investment advice. This Best of US Investors website is for informational purposes only. Nothing on this Best of US Investors website constitutes a recommendation to buy, sell or hold any security at any time. Always consult with a financial professional that is familiar with your specific situation before making any investment or trade.

Use of this Best of US Investors website is at your own risk. Best of US Investors makes no warranties about the accuracy, completeness or reliability of any content on this Best of US Investors website.

All the information on this Best of US Investors website is provided “AS IS”. Do not rely on any statements made on this Best of US Investors website.

In no event shall Best of US Investors be responsible or liable for any damage that occurs while using or reading any content on this Best of US Investors website.

Best of US Investors may have a position (long, short or neutral) in any security mentioned on this Best of US Investors website and therefore may realize significant gains in the event that the price of the security mentioned on this Best of US Investors website declines or appreciates.

Best of US Investors may buy and/or sell any security mentioned on this Twitter account at any time and for any reason. I may trade contrary or different to the information provided on this Best of US Investors website. You should assume that any email or post on this Best of US Investors website may cause the price of the security mentioned to appreciate or decline in a dramatic way.

Best of US Investors may continue to transact in any security mentioned on this Best of US Investors website an indefinite period of time after any email or post and such positions may be long, short or neutral at any time hereafter regardless of the initial view or positions stated on this Best of US Investors website.

In no event shall Best of US Investors be liable for any claims, losses, costs or damages of any kind including direct, indirect, punitive, exemplary, incidental, special or consequential damages, arising out of or in any way connected with any information presented on this Best of US Investors website. This limitation of liability applies regardless of any negligence or gross negligence of Best of US Investors or any company affiliated with Best of US Investors. You accept all risks in relying on the information presented on this Best of US Investors website.

If any statement in this legal disclaimer is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect.

For more information, contact [email protected] .