Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

Buying signal, Bitcoin whales with 1000 BTC or more continue to rise

Olumide Adesina by Olumide Adesina
September 16, 2020
in Cryptos, Op-Eds
Investor moves $133 million worth of Bitcoins, suspected from Coinbase, World's biggest sovereign wealth fund now owns cryptos, Investors cashing in big time, as 95% BTC wallets are currently in profit, blockchain technology, Bitcoin giving better returns than the Nigerian stock market, What it will take Bitcoin to hit $100,000?, Buying signal; Bitcoin whales with 1000 BTC or more continue to rise
Share on FacebookShare on TwitterShare on Linkedin

The number of entities with a balance equal to or above 1000 BTC continues to rise.

The signs are bullish, as we still haven’t broken the upward trend line, despite the dip at the start of September.

The number of #entities with a balance of >= 1k $BTC continues to increase. #Whales#Bullish as we still have not broken the upward trend line despite the dip during the start of September.#Bitcoin #Crypto

Source: @glassnode pic.twitter.com/ZXTnuk1N6v

— Double-U (@DoubleU_theory) September 14, 2020

BTC crossed above $10,700 on Monday for the first time since September 3rd, and it appears to have been supported by spiking trading volume.

READ: AFDB Investigative panel declares Dr. Akinwunmi Adesina Innocent

At the time of this report, the flagship crypto traded at $10,687.49 with a daily trading volume of $24.438 billion BTC, price is up 2.7% in the last 24 hours. It has a circulating supply of 18 Million coins and a max supply of 21 Million coins.

 

In the Bitcoin world, investors or traders who own large numbers of Bitcoins are typically called Bitcoin whales. This means a Bitcoin whale would be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.

(READ MORE:Bitcoin stages come-back, as buyers push price above $10,000)

As BTC whales accumulate BTCs, Bitcoins circulating supply reduces, and this can weaken any bearish trend BTC finds itself in. This means that over time, it’s possible that as Bitcoin approaches its fixed supply of 21 million coins, the price of BTC will go up, with BTC’s present demand factored in.

Whales could be anticipating a strong medium to long-term Bitcoin price trend, and are choosing to hold on to BTC in expectation of a bull market.

Much of the recent increase can be attributed to wealthy entities withdrawing their BTC from exchange. Apparently, this is not new wealth – rather, it represents a change in the way Bitcoin whales are choosing to hold their coins.

From a macro level, this increase in the number of BTC whales can be considered bullish.

Related

Tags: BitcoinBitcoin whales

Comments 1

  1. Hatutale erickson says:
    October 12, 2020 at 7:08 am

    Tell me how can i make money through bitcoin

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Access Bank
Bankers Committee
Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Zenith CEX
Kwakol Markets
First bank





    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Top 7 best gift cards to sell in Nigeria and Ghana (2022)
    • International passport: Immigration Service to enable self-verification of NIN on portal
    • THIS WEEK: Naira falls as inflation and Eurobond Yield rise

    Follow us on social media:

    Recent News

    Top 7 best gift cards to sell in Nigeria and Ghana (2022)

    Top 7 best gift cards to sell in Nigeria and Ghana (2022)

    May 21, 2022
    Nigerians in Qatar facing deportation due to unavailability of passports in embassy

    International passport: Immigration Service to enable self-verification of NIN on portal

    May 21, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com