Bitcoin’s biggest whale has bought 927 BTC in last two weeks

What

Despite Bitcoin suffering 25% losses  this week, Bitcoin’s largest whale has added 927 Bitcoins to its wallet — which brings it to a new total of 128,800 BTC

Why

While prices are down, whales tend to buy up Bitcoin at discounted rates in anticipation of the next rally. There is also analysis that suggests Bitcoin will reach $100,000 by the end of the year, so the unknown whale may be in agreement with this 

What next

The market has seen some positive price action today, with Bitcoin enjoying a 6.5% rally. Time will tell if this is a relief rally and if we can expect to see further declines

The story

According to data on Bitinfocharts, the whale is the third-largest wallet in the world, behind only the exchange wallets for Binance and Bitfinex

A tweet by Santiment pointed out that $22,000 is a level of interest to whales. A significant number have been accumulating at this level, suggesting they believe this to be a good level for accumulation.

Interested in learning more about Bitcoin? Check out our educational resources.