Sunday, January 24, 2021

Bitcoin Price Dips as Whale Transfers 15,000 BTC (US$149,508,150)

Bitcoin (BTC), the first and largest cryptocurrency by market capitalization was earlier enjoying its stay above $10,000 resistance level before a sudden change of price trend a few minutes ago after a Bitcoin whale reportedly transferred a sum of 15,000 BTC (US$149,508,150 at press time) from a wallet to another wallet.

In the cryptocurrency industry, whales hold a very important role in determining the price trend of any digital currency in the market.

On more than one occasion, huge transactions effected by whales, especially the so-called Bitcoin whales, have greatly affected BTC by changing its trend positively or negatively.

So, anytime a huge transaction of Bitcoin or any other digital currency is hinted, virtually all crypto enthusiasts observe to see its impact on the price of the particular digital currency in the market.

Bitcoin Price Dips As Whale Transfers 15,000 BTC

According to Whale Alert, the live tracker of large cryptocurrency transactions, an unknown Bitcoin (BTC) whale has recently effected the transaction of the sum of 15,000 BTC from an unknown wallet to another.

Bitcoin (BTC) Price Dips as Whale Transfers 15,000 BTC (US$149,508,150)
Courtsey of Whale Alert

The live crypto tracker shared the huge movement of the BTC via its official Twitter handle a few minutes ago. According to the report, the transaction was made on 10th February 2020, at 05:41:00 (UTC).

Expectedly, a BTC transaction from an unknown wallet to another shouldn’t have a significant effect on the price trend of the digital currency. However, the recent transaction seemed to have impacted the trend of Bitcoin price with the recent indication noticed.

About 24 hours ago, BTC broke above $10,000 resistance level, recording its 2020 price highs in the process. Its stay above the support seemingly looked permanent, but it later played out otherwise.

Bitcoin enthusiasts were busy expecting the next uptrend of Bitcoin price in the 5-digit price region before the huge transaction was effected.

Crypto pundits are now attributing the BTC transferred to the recent dip of its price below $10,000 support. At the time of filing this report, BTC is trading at $9,966.37, with a 1.23% price uptrend based on 24 hours estimation.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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