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Whales Bitcoin are starting to move money amid a bullish scenario

June 9, 2020

Crypto whales and especially those that manipulate the price of Bitcoin They emerged from the deeply bullish phase of the general cryptocurrency market.

According to Whale Alert reports at the beginning of week 24, corresponding to the period from June 8th to 14th, 2020 The wha crypto whales have mobilized just over $ 600 million in six different assets, with Bitcoin at the forefront with more than 50 percent of the registered movements.

Whales Bitcoin are starting to move money amid a bullish scenarioWhales Bitcoin are starting to move money amid a bullish scenario

Bitcoin whale movements varied between wallets from unknown addresses and some of the major cryptocurrency exchanges like Coinbase, Bitstamp, OKEx and Binance Exchange.

The first transfer, reported by the major motion analysis company Whale-Alert, was reported on Monday June 8th at 9:14:48 p.m. UTC between wallets of unknown address at $ 19,999,996 BTC, nearly $ 195 million.

After the previous transaction, two transactions were conducted almost simultaneously by Coinbase for USD 5,970 BTC and Binance in the amount of 1,210 BTC. Closing the day on Monday with just over 41% of the funds reported by Whale Alert in the past two days.

At the end of this post it has been reported in the past few hours three additional Bitcoin transfer transactions for smaller amounts from Binance and Coinbase to wallets from unknown addresses for a cumulative amount of 5,575 BTC «usd 54.3M».

A third transaction was revealed from a wallet with an unknown address on the OKEx exchange of BTC 1,500, about $ 14.5 million.

Ripple OTC starts its usual monthly distribution

In another context, the company with the third largest cryptocurrency in the market by market cap, Ripple started his usual move at the beginning of the month, which has been going on since last year, via his OTC wallet in the amount of 824,500,000 XRP to other wallets than unknown addresses.

The retreat took place in two days, this time from two different directions. The first process was conducted on Monday, June 08, 2020 at 02:01:40 UTC for 24.5 million XRP tokens from the r3u9Yrb7Kg … YagrNVT665 wallet to an unknown owner destination.

The second process was more extensive at the end of Monday as 800 million XRP tokens were withdrawn from the Ripple OTC distribution folder rMQ98K56yX … Ln94Xe1mu1, in four identical transactions as wallets from unknown addresses, as has been done on the last few occasions.

The total reported by Ripple OTC on this opportunity is $ 166 million This time, transferred from the company that sells its tokens to various exchanges and banking allies to process cross-border payments.

Bitcoin is struggling to break the five digits

With a completely green line for the entire cryptocurrency market in general, Many analysts believe that the Bitcoin price will finally exceed the five-digit mark in the coming weeks. as reported by Cointelegraph today.

According to the price analysis of the BTC / USD pair “perfectly” repeats a pattern before the historical highs of 2013, Bitcoin’s price could hit a record high of $ 75,000 in a few weeks.

Despite the optimism that the analyst shows on his social network Twitter, experienced others are skeptical about a big break over five digits this year.

In this context An important influencing factor on Twitter notes that a mathematical model to predict future Bitcoin prices signals a drop in Bitcoin prices End of June under the $ 9,000 mark.

The model in question, called the Fermions Flow Whales Model, is “verified by many academic sources” according to the account holder, which, according to its name, suggests the possibility of infusing some FOMOs to capture low prices and accumulate BTC before the separation.

However, since nothing is exact and less the cryptocurrency market, It is still early to make a judgment on this matter. Time will tell us who accumulated, lost or won with Bitcoin at the end of 2020.

Currently, the price of Bitcoin is $ 9,700 with a slight downward fluctuation at the time of this post’s completion.