49,342 Bitcoin is transferred back and forth between the whales, the community expects the price to rise

When a large amount of Bitcoin is sent, immediately the community will stir up to anticipate the price will pump or dump sharply afterwards.

This time, nearly 50K BTC was transferred between Bitcoin whale wallets making some people in the community believe that Bitcoin would move upwards.

Bitcoin whale moves 49,342 BTC

The Twitter Whale Alert bot shared data on 49,342 BTC transferred from the anonymous wallet. The corresponding conversion price is 361,016,972 dollars.

“49,342 BTC (361,016,972 USD) transferred from Unknown wallet to Unknown wallet ”.

In the comments section, users are expecting this huge transaction to have a positive impact on Bitcoin price.

Bitcoin 1

Source: Twitter, Whale Alert

It is impossible to determine whether the sender and the recipient are exchanges, so it cannot be said whether the money was purchased or sold.

Whale Alert explains what happened

The move to transfer such a huge amount of BTC has demonstrated a transaction change. However, the amount of money actually moved was not disclosed.

"Transaction changes”.

'Bitcoin wants perform some actions ’

Trader Crypto Rand shared his optimism about Bitcoin and said that 'Bitcoin wants to take some action'. The chart shows Crypto Rand marking the area between $ 8,000 and $ 8,250 as the first target.

Crypto analyst Michael in Amsterdam also commented on the current state of Bitcoin, saying it is growing slowly. However, the volume is decreasing.

According to him, some shorter are still waiting for the leading cryptocurrency to reach 7,700 - 8,000 dollars. Analysts say more and more traders are raising prices.

“The price of BTC is gradually increasing, but the volume is decreasing. S$ 6,900 horter stopped and flipped to long, while shorter $ 7,700-8,000 are waiting. More and more people are turning to bullish, showing me that the liquidity is below us. Let's see. ”

'Resistance is around $ 7,800'

Bitcoin Jack Trader shared 2 scenarios. In the first scenario, Bitcoin will test resistance at $ 7,800. The other scenario shows BTC dropping to the support of $ 6,800.

“Flip coin in the direction of BTC

Resistance around 7,800 dollars

Support about 6,800 dollars

After that, he seemed to choose the second scenario. In the comment section, he added:

“There is a lot of liquidity in the 6 range,800-6,900 dollars. It will not surprise me to test it ”.

PlanB: HBitcoin ashrate is likely to increase after halving

PlanB model analyst and inventor PlanB believes that the Bitcoin hashrate after halving is likely to skyrocket as it did after two similar events earlier.

“Halving Bitcoin does not reduction hashrate ”

He identified the process as valid only for Bitcoin and not altcoins and reminded readers that the LTC hashrate dropped after halving in August last year. The same for BCH hashrate after halving on April 8.

“Only for Bitcoin, not altcoin! BCH have The hashrate decreased by -50% after halving yesterday. Same for LTC after halving into the 2019 ”.

You can see the price of BTC here.

Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

Minh Anh

According to AZCoin News

Follow the Twitter page | Subscribe to Telegram channel | Follow the Facebook page

Crypto loans are only 5.9% of the annual interest rate - you can use the money effectively without selling coins. Earn up to 8% interest per year with stablecoin, USD, EUR & GBP with insurance up to 100 million. Come on, get started now! →