The next 500 BTC transaction worth $54,305,084 also left the trading platform in less than 15 minutes. There are no indications that this is a dormant whale that has come alive, as the wallets have recent records of large transactions. In total, these three transactions were worth $162,502,588.
Despite the high price outlook of Bitcoin, the coin remains a favorite among high-net-worth individuals. While many might insinuate that the coin is currently overbought, these whales believe in the “omega” rally propagated by Samson Mow.
Should these three transactions be acquired, a long-term HODLing move could be initiated.
Despite the high prices, Bitcoin’s technical strength also proves that a supply squeeze is ahead. Bitcoin mining has not matched up with demand since the last halving, placing BTC on a path toward a massive rally in the long term.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
