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El Salvador continues to accumulate 7 Bitcoin a week despite reaching an agreement with the International Monetary Fund (IMF). The Central American country made headlines earlier this year when it became the first nation to adopt Bitcoin as legal tender, a move that was met with controversy and praise. Despite concerns raised by the IMF [...]
The Bitcoin market is buzzing with excitement as various analysts and traders set their sights on a $65,000 price target for the popular cryptocurrency. In the midst of this optimism, a mysterious investor known as “Spoofy Whale” recently made a significant purchase during a price dip, causing a stir in the market. With Bitcoin’s price [...]
The post $65K Bitcoin Price Predictions Accumulate as ‘Spoofy the Whale’ Seizes the Dip appeared first on Crypto Breaking News.
Bitcoin (BTC/USD) whales are showing signs of sustained accumulation, which has been rare to see throughout this crypto winter. Whales have collectively added 46,173 BTC ($929 million) to their wallets.
Bitcoin is the largest cryptocurrency in terms of market capitalization as well as overall appeal, and it has been hit hard by the crypto winter.
However, this accumulation could signal a bullish run in the future of the cryptocurrency as confidence within BTC increases.
Whale accumulation as a catalyst for growthIn the latest Bitcoin news, since September 27, the addresses that hold 100 to 10,000 BTC have added 46,173 BTC collectively to their wallets, as large Tether (USDT/USD) holdings have decreased, according to a report by Santiment.
Source: Santiment
This trend is a turnaround from an 11-month-long drop in the BTC holdings of whales, which was also previously reported by Santiment.
This latest accumulation is a signal that the BTC market has likely reached a bottom and could be poised for an upwards bounce.
When we look at data from Btc.com, we can see that the mining difficulty of Bitcoin has reached new heights.
As of October 10, 2022, the difficulty is at 35,610,794,164,371m, with the hashrate at 259.68 EH/s.
Source: BTC.com
However, as we go over its recent performance, we can see that things might be looking up for this cryptocurrency.
Should you buy Bitcoin (BTC)?On October 10, 2022, Bitcoin (BTC) had a value of $19,371.
The all-time high of the Bitcoin (BTC) cryptocurrency was on November 10, 2021, at a value of $69,044.77. Here we can see that at its ATH, BTC was trading $49,673.77 higher in value, or by 256%.
When we go over its 7-day performance, Bitcoin (BTC) had its low point of value at $19,180.60, while its high point of value was at $20,420.51. Here we can see that BTC experienced a difference in the value of $1,239.91 or by 6%.
Taking a look at the 24-hour performance, Bitcoin (BTC) saw its low point at $19,182.52, while its high point was at $19,550.72. Here we can see an increase in its value by $368.2 or by 2%.
With all of this in mind, investors might want to buy BTC and begin accumulating the cryptocurrency, as there are signs that it can climb to over $21,000 by the end of October 2022.
The post Whales accumulated over $929M in Bitcoin in the last two weeks, should you BTC now? appeared first on Invezz.
Recent movements in Ethereum’s price have showcased a volatile trend, with the cryptocurrency dipping below key support levels of $3,000 and $2,920, and currently trading at $2,944. Insights from @intotheblock reveal that 1.38 million addresses collectively purchased 1.33 million ETH, amounting to $3.9 billion, at an average price of $2,984. […]
Earlier this month, Zetachain (ZETA) celebrated a significant milestone as it reached an all-time high (ATH) of $2.854. The surge marked a moment of triumph for the token, buoyed by positive market sentiment and a string of successful partnerships. However, in the past week, Zetachain has experienced a downtrend, witnessing […]
Ethereum price has crossed above $1,900 for the first time in eight months on Wednesday morning, trading to intraday highs of $1,920 across major exchanges. The bullish move has ETH trading towards the psychological price level of $2,000 – which was last visited in mid-August 2022. Ethereum price breaks above $1.9k According to crypto market …
<p>The post Ethereum price hits 8-month high above $1.9k as sharks accumulate $4.2B of ETH first appeared on CCNC | Cryptocurrency Newscast.</p>
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