The estimated value of the Bitcoin market has topped US$100 billion as it continues to gain momentum, but who are the big players? The first three billion dollar investors have been known to the crypto community, and the fourth richest has remained largely elusive.
According to a new report, Bitcoin is not dead yet. A new report published by Chicago-based digital currency data provider Chainalysis revealed that the transaction volume of the $5 billion-valued cryptocurrency has continued to rise throughout 2018, with the fourth-richest Bitcoin whale now owning close to 12,000 bitcoins (worth $133 million), a price that is well below the $400,000 average of the past three weeks.
A week ago we published a piece on the 4th richest bitcoin whale. After reading the piece, one of our readers starting wondering about the previous 3rd richest bitcoin whale. It turns out that this was not the first time that the 4th richest bitcoin whale had appeared as a top buyer. The 3rd richest bitcoin whale had appeared 3 weeks earlier, buying 12,000 bitcoins for under $40k. Why is this whale so interested in bitcoin? And how big is this whale?Yesterday’s drop is perhaps the dumbest move we have ever seen in the bitcoin crypto-currency market. People continued to panic, but this time it wasn’t about Chinese FUD or the mining problem, it was about the mainstream media and US government officials spreading fake news about the Bitcoin wallet hack. Meanwhile, one of the richest bitcoin holders went shopping and took full advantage of this second major market drop. The most surprising thing about this particular holder is that from the amount he earned by selling 3,000 bitcoins, he bought another 521 bitcoins for an average of $58,000. And he did it again yesterday. If you look at the image below, you will see that this address is in fourth place with over 100k Bitcoins. And he now has over 112,000 bitcoins, which means he’s bought almost 12,000 more bitcoins in just three weeks. The amount of bitcoins he bought is not amazing, but the way he amassed them is shocking. Now, we already know that this address has owned bitcoin since early 2019 and bought most of its stake for less than $10,000. We see that now too. He is constantly buying dips and using those dips, or as we call them, panic selling, to his advantage. Yesterday’s decline was based entirely on FUD and fear from retail investors. He took the opportunity to buy nearly 3,700 bitcoins at an average price of $32,000. What’s even more surprising is that he never bought more than $40,000 worth of bitcoin in the past month. That means he bought more than 13,000 bitcoins at an average price of $38,000 to $40,000. He’s made so many smart moves in recent years, and it seems like he’s never been able to buy a bump. Every collapse has become an opportunity to buy more bitcoins. While the whole market was waiting for confirmation, it turned out that this holder had real diamond hands to acquire more bitcoins. Kartikeya Gutta, born and raised in India, is a cryptocurrency journalist and freelance writer for the website itsBlockchain. It covers various aspects of the industry through in-depth analysis and research. His passion for blockchain and the crypto-ecosystem is largely because he believes it can truly change the world and help millions of people.
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Sign up to be notified of the latest posts.The Bitcoin world has grown exponentially over the years, and with the growth has come a growing number of ‘whales’ who have become wealthy in the space. While the Bitcoin price has soared over the past few years, and the value of one bitcoin has skyrocketed to almost $20,000 per “coin”, some Bitcoin whales have made even more money than that, with one Bitcoin whale buying almost 12,000 bitcoins over the past three weeks at a price of $40,000 per bitcoin.. Read more about cryptocurrency triangle and let us know what you think.
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