A report published by the data complex on the series Santimi’s disclosure Bitcoin whales began in contrast to their market tactics and buy BTC recently sold.
The month has only started and the whales already rise nearly half a billion dollars of bitcoin.
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Bitcoin whales you buy again
Santiment reported that the whales and sharks BTC were subjected to several major shifts over the past half of the past year. They started accumulating large quantities of bitcoin, then stopped accumulating them, then threw them. Recent sales occurred between mid -February and March.
With the launch of March, these whales, at least 10 BTC, began to buy Bitcoin again and already accumulated 5000 BTC. The value of this leading cryptocurrency is estimated at $ 408,010,750 at the time of writing this report.
To date, the price of bitcoin has not interacted with this huge accumulation. However, the Santiment team believes that the situation may change in the second half of March and play “much better than the bloodbath we have seen 7 weeks ago than Bitcoin.” That is if these large whales continue to buy Bitcoin, as a tweet mentioned.
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Mike McGlone predicts a decrease of Bitcoin to $ 70,000
Over the past three days, Mike Mcchelon, the chief basic commodity strategy in Bloomberg Intelligence, has tweeted that he believed a significant decrease in bitcoin this year. On Friday, McGlone tweeted that due to the solid American foreign policy, the stock market is collapsing, and bitcoin reflects it closely.
McGlone said the only assets that benefit from the current situation are gold, which is one of the traditional assets of Amna. The market mostly treats bitcoin as the origin of risk.
The expert also marked the Bitcoin Nasdaq 100 in the early first decade of the twentieth century, when it reached the highest level at 5,000 points at the height of the Dot-Com bubble and then shattered by 80 %. McGlone expressed the opinion that Bitcoin is likely to face the same fate and destroy it after reaching a peak of $ 100,000. He did not specify whether this incident is already happening or expected this scenario to play later this year.
Earlier in the day, McGlone expected Bitcoin to be suspended to $ 70,000 this year.
