Cryptocurrency
$414 million worth of Bitcoin moved by a large entity
A Bitcoin whale has moved 21,846 BTC valued at around $414 million.

Published
2 months agoon

Large entities are presently increasing their presence at the world’s most valuable crypto market, as Bitcoin breaches below the $19,000 price level.
What we know: Data obtained from Bitcoin BlockBot, a BTC analytic tracker, revealed that a Bitcoin whale moved 21,846 BTC valued at around $414 million.
READ: Ethereum yearly gains up by 279%, nears $600
Whale alert! 🐋 Someone moved 21,846 BTC ($414M) in block 659,963 https://t.co/K6vN5m8qX0
— Bitcoin Block Bot (@BtcBlockBot) December 4, 2020
READ: Crypto millionaire carts away with $224 million worth of Bitcoin
At the time of writing this publication, the flagship crypto traded at $18,798.43 with a daily trading volume of $35.3 billion. Bitcoin is down 2.95% in the last 24 hours. It’s presently ranked the most valuable crypto by market value, with a market capitalization of $349 billion.
It has a circulating supply of 18,562,518 BTC coins and a maximum supply of 21,000,000 BTC coins
READ: Nigeria needs $5billion for National Broadband Plan – Chairman, BISC
Why this is happening
Crypto traders and investors are now cashing in on some of their gains, as recent price action reveals the flagship crypto broke the key support level of $19,000 amid record inflows coming from institutional investors.
Recent, data from Glassnode revealed BTC Active Supply 2y-3y (1d MA) just reached a 3-month high of 2,548,131.371 BTC.
READ: Nigeria needs $3trillion in 30 years to reduce infrastructure deficit – Osinbajo
- The previous 3-month high of 2,542,341.460 BTC was observed on 04 December 2020.
- The amount of circulating supply last moved between 2 years and 3 years ago.
READ: FG to seek international cooperation to curb illicit financial flows
📈 #Bitcoin $BTC Active Supply 2y-3y (1d MA) just reached a 3-month high of 2,548,131.371 BTC
Previous 3-month high of 2,542,341.460 BTC was observed on 04 December 2020
View metric:https://t.co/ov1FrjgNQz pic.twitter.com/ft1lMZ92FP
— glassnode alerts (@glassnodealerts) December 5, 2020
Explore Data on the Nairametrics Research Website
What this means
While it is difficult to predict market movements, large entities have shown historically that they often determine the crypto trend.
Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.


Cryptocurrency
Why Bitcoin could triple in value annually
Michael Saylor recently disclosed why he believes the flagship crypto-asset could triple in value

Published
15 hours agoon
January 24, 2021
The leader of the biggest traded business intelligence firm, Michael Saylor recently disclosed why he believes the flagship crypto-asset, Bitcoin, could triple in value yearly.
In a Stansberry Research interview, Saylor explained Bitcoin is monetary energy that will attract lots of money;
“In a monetary expansion environment where I crank the monetary inflation rate up by 15%, that $300 trillion has got to find a store of value that’s not a fiat derivative.
READ: 94% of Bitcoin investors are making money
“That means that Bitcoin is going to keep growing and its monetary force is going to keep growing and it’s probably going to grow 200% a year until it has demonetized gold, silver, sovereign debt, bond indexes, stock indexes, every source of monetary energy which is just a store of value for someone that doesn’t want to lose their purchasing power and needs a scarce asset, ” Saylor said.
Another key macro supporting the bullish bias of Micheal Saylor is data showing the number of addresses holding 1,000 BTC just reached a new all-time high of 2,446.
Over the last 21 days, 141 new whale addresses with over 1k BTC were created, suggesting large entities are expecting a significant price rise for Bitcoin in the near future.
READ: 100 Crypto wallets have at least 10,000 Bitcoins
The number of addresses holding 1,000 BTC just reached a new all time high of 2,446.
Over the last 21 days, 141 new whale address with over 1k BTC were created, suggesting large entities are expecting a significant price rise for #Bitcoin in the near future.
Chart: @glassnode pic.twitter.com/D6vMXBLugy
— Bloqport (@Bloqport) January 21, 2021
READ: CBN retains MPR at 11.5%, holds other parameters constant
Some days ago, MicroStrategy purchased approximately 314 bitcoins for $10.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $31,808 per bitcoin, showing they hold approximately 70,784 Bitcoin, and thereby making the flagship crypto-asset scarce.
MicroStrategy has purchased approximately 314 bitcoins for $10.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $31,808 per bitcoin. We now hold approximately 70,784 bitcoins.https://t.co/zMJSH29bmC
— Michael Saylor (@michael_saylor) January 22, 2021
Cryptocurrency
Crypto entity moves $227 million worth of Bitcoin
a large entity transferred 6,925 BTC worth $226,609,828, from Unknown wallet to Unknown wallet.

Published
15 hours agoon
January 24, 2021
Large entities in the Bitcoin market are transferring a significant amount of Bitcoin amid the prevailing market volatility in play.
Data retrieved from Whale Alert, an advanced crypto tracker, revealed a large entity transferred 6,925 BTC worth $226,609,828, from an unknown wallet to another unknown wallet.
READ: 273,000 Bitcoins taken away from crypto market within a month
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 6,925 #BTC (226,609,828 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) January 23, 2021
- At the Bitcoin market, investors or traders who own large amounts of bitcoins are typically known as Bitcoin whale.
- This means that a BTC whale would be an individual or business entity (with a single Bitcoin address), that owns around 1000 coins or more.
- As BTC whales accumulate BTCs, Bitcoin’s circulating supply reduces, and this can weaken any bearish trend bitcoin finds itself in.
READ: 230 million XRP worth over $117 million moved by powerful investors
Meaning that over time, it’s possible that as BTC approaches its fixed supply of 21 million – the price of BTC will go up, with BTC’s present demand factored in.
- leading household names in finance that include Paul Tudor Jones and Stanley Druckenmiller endorsed it as an alternative asset, adding to the rally.
- Not forgetting listed U.S brands like MicroStrategy Inc. and Square Inc. that moved their cash reserves into crypto in search of better returns than what near-zero interest rates deliver.
READ: Crypto: LEND gains more than 4000% in one year, set to rally higher
Also, a leading crypto expert, Willy Woo, via his Twitter handle, hinted that Bitcoin’s price could still rally higher on the bias that the “Inventory depletion on spot crypto exchanges has stopped, signifying the re-accumulation phase of this macrocycle is likely to complete. If this cycle mimics the last, inventory on exchanges will increase, as retail starts entering in large numbers, attracted by the price rises.”
Cryptocurrency
94% of Bitcoin investors are making money
Microstrategy bought 314 more Bitcoin valued at $10 million, momentarily pushing prices above $32,000.

Published
2 days agoon
January 23, 2021
Bitcoin investors have reasons to be excited amid a significant amount of volatility prevailing at the flagship crypto market.
The number of Bitcoin holders in profit is about 94% as data retrieved from Glassnode, a crypto analytic firm, showed.
Bitcoin Percent Addresses in Profit (1w MA) just reached a 1-month low of 93.851%.
READ: Bitcoin posts biggest daily drop since market crash of March 2020
📉 #Bitcoin $BTC Percent Addresses in Profit (1w MA) just reached a 1-month low of 93.851%
View metric:https://t.co/ik5IkrurRk pic.twitter.com/jvhN6ur50r
— glassnode alerts (@glassnodealerts) January 22, 2021
READ: Ex-Real Madrid Striker, David Barral becomes first-ever footballer to be bought with Bitcoin
Metric description; The percentage of unique addresses whose funds have an average buy price that is lower than the current price. “Buy price” is here defined as the price at the time coins were transferred into an address.
At the time of drafting this report, Bitcoin traded at$32,640.90 with a daily trading volume of $63.8 billion. Bitcoin is up 5.03% for the day.
What this means: Sequel to such metric stated above, the turnaround for investors in profit occurred some hours ago when Bitcoin dropped to $28,950 — a key level when it comes to support from large pocket investors and only its second dip below $30,000 in 2021, as a leading bitcoin investor, Microstrategy bought 314 more Bitcoin valued at $10 million, momentarily pushing prices above $32,000.
READ: 4 cryptos gain over 400% in a month, far outperforming Bitcoin
Microstrategy just bought 314 more #Bitcoin for $10M.@michael_saylor bought the dip.
— Documenting Bitcoin 📄 (@DocumentBitcoin) January 22, 2021
READ: Computers might steal Satoshi Nakamoto’s Bitcoin fortune
Chainalysis researchers explained in detail that as the rush for BTCs keeps increasing, the price will most definitely be affected. The report said:
“With more people looking to trade BTCs, which is only becoming scarcer following the recent halving, bitcoin moving from the investment bucket into the trading bucket could become a crucial source of liquidity.”
Consequently, amid the impressive metric showing a lot of Bitcoin wallets in profits, Jesse Cohen, a senior crypto analyst, in a note to Nairametrics, spoke on the outlook for Bitcoin in 2021.
“I expect Bitcoin to remain highly volatile to the downside in the new year, given the potential for more scrutiny and tighter regulation. That should see prices fall back from their record highs, with the prospect of increased regulation being the most important factor affecting Bitcoin in 2021.”
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