Bitcoin whale moved 5000 Bitcoins to the exchange address of Poloniex which caused concern to traders and analysts.
Bitcoin whale moves $40 M Bitcoin to Poloniex
Bitcoin whales have always played a major role in dictating the price action of the asset. Many crypto analysts, as well as traders, have looked at moves made by whales to predict the future price of the coin. Generally, the movement of whales towards a crypto exchange address suggests that a dump is imminent. As the person dumps i.e. sells off, his Bitcoins the price of the asset falls and momentum moves towards the bears.
Now a Bitcoin whale moved BTC worth nearly 40 million dollars to the Poloniex exchange from an unknown wallet. The unknown entity moved a huge number of coins to the exchange address attracting the eyes of other traders and analysts. However, people suspect that the move is not as simple as a crypto dump. Read More...