Bitcoin Price Prediction as Two Mysterious Whales Start Transferring Funds After 10 Years – What’s Going On?

  • May 14, 2024
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Bitcoin Price Prediction

Bitcoin price prediction is a hot topic as two mysterious whales, inactive for over a decade, have suddenly moved 1,000 BTC, worth about $60.9 million, within the past 20 minutes.

This unexpected activity has intrigued market analysts and traders, prompting speculation about potential market impacts and future price movements.

Two Mysterious Whales Start Transferring Funds After 10 Years

Two Bitcoin wallets that have been inactive for over a decade suddenly moved 1,000 BTC, valued at approximately $60.9 million, within the past 20 minutes. These transactions have caught the attention of market analysts and traders alike, sparking curiosity and speculation about potential market impacts.

2 wallets that have been dormant for 10.7 years transferred all 1,000 $BTC($60.9M) out in the past 20 mins.

Wallet”16vRqA” received 500 $BTC($62K at that time) on Sept 13, 2013, when the price was $124.

Wallet”1DUJuH” received 500 $BTC($62K at that time) on Sept 12, 2013, when…

— Lookonchain (@lookonchain) May 12, 2024

The wallets, identified as “16vRqA” and “1DUJuH,” each received 500 BTC in September 2013, when Bitcoin was priced at $124 per coin. This activity, reported by Lookonchain, raises questions about the motives behind the transfers and whether these movements could signal a significant shift in market dynamics.

The sudden reactivation of these long-dormant wallets may indicate upcoming volatility or strategic moves by influential holders, making it crucial for investors to stay informed and vigilant.

Bitcoin Price Prediction

Bitcoin (BTC/USD) is trading at $62,022, down around 1.50%, with a neutral Bitcoin price prediction. The 4-hour chart highlights a pivot point at $61,764, a critical level for traders to monitor. Immediate resistance is found at $63,824, followed by $65,506 and $67,222. On the downside, immediate support lies at $60,185, with further support at $58,812 and $56,640.

Technical indicators show that the Relative Strength Index (RSI) is at a neutral 50, suggesting no immediate overbought or oversold conditions. The 50-day Exponential Moving Average (EMA) stands at $62,023, closely aligning with the current price.

Bitcoin Price Prediction – Source: Tradingview

A symmetrical triangle pattern is forming around the $61,760 level, indicating potential volatility. This pattern suggests that Bitcoin could break out in either direction. On the lower side, a break below $61,764 could lead the price towards $60,185, with further declines potentially reaching $58,800 and $56,640.

Conversely, if Bitcoin breaks above $63,000, it could target resistance levels at $65,500 and $67,250. The outlook remains cautiously bullish above $61,765, but a break below this level could trigger significant selling pressure.

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The post Bitcoin Price Prediction as Two Mysterious Whales Start Transferring Funds After 10 Years – What’s Going On? appeared first on Cryptonews.

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