The bitcoin whales continued to buy the dip

[Lens1000]

Colin Wu reports that three of the top 50 Bitcoin whales have purchased 5,322 Bitcoins, using BitinfoCharts. 3,000 BTC was contributed to the 33rd largest wallet. The number of Bitcoins in the 34th largest wallet has increased by 1,455 Bitcoins, and another wallet owner has purchased 867 Bitcoins. At the current BTC/USD conversion rate, that's a total of 5,322 Bitcoins worth $225,204,067.

While these three whales acquired more Bitcoin as the price dropped, the owner of the 32nd largest wallet sold about the same amount of BTC: 4,250 coins.

None of these four addresses are associated with any crypto exchange, according to Wu.

 

[Alexandoy]

I wonder why people are investing in Bitcoin and other crypto coin when they already know the presence of whales in the market. Even if the transaction did not pass any exchange center the value of the crypto coin is still affected with a huge transaction whether it is a purchase or sell. My point in my comment is that when a whale would transact in big amounts the ordinary investor would seem to be caught flat-footed because we are just like pawns in a chess game. We do not have the power to affect the market price. We are just like the crowd in the ballgame that cheers when there is cheering. It is the team that earns the cheer and what the cheering crowd gets is a hoarse voice. Do you see that the crypto coin has no real value at all? It has a value only in the exchange market because there are traders. It is not like the stocks that is backed by a corporation, a real company like a bank that operates to serve the public.

 

[Lens1000]

I wonder why people are investing in Bitcoin and other crypto coin when they already know the presence of whales in the market. Even if the transaction did not pass any exchange center the value of the crypto coin is still affected with a huge transaction whether it is a purchase or sell. My point in my comment is that when a whale would transact in big amounts the ordinary investor would seem to be caught flat-footed because we are just like pawns in a chess game. We do not have the power to affect the market price. We are just like the crowd in the ballgame that cheers when there is cheering. It is the team that earns the cheer and what the cheering crowd gets is a hoarse voice. Do you see that the crypto coin has no real value at all? It has a value only in the exchange market because there are traders. It is not like the stocks that is backed by a corporation, a real company like a bank that operates to serve the public.

I understand your point vividly. Despite the fact that the whales are accumulating bitcoin at this time, it is also important to note that the accumulation of the btc holdings by all the small investors is also significant. It's true that the whales have the power to influence the price movement , the small investors to could pull successful investment by using a copy-trade strategy. You could copy the trading moves of the whales to make quick profit. Although, I don't don't really invest much of my money on bitcoin because it's easily influenced and sometimes unpredictable.

 

[ns5393]

nice topic , thanks Bitcoin Cash