Bitcoin whales are accumulating while waiting for the halving

Two positive news for the crypto market fueled Bitcoin’s price growth and beyond. The Supreme Court of India has overturned the central bank’s decision to restrict banking for crypto companies. In addition, South Korea has adopted new regulations for crypto companies operating in the country, thus legitimizing the use of cryptocurrencies.

As a result of this news, the price of Bitcoin has exceeded the threshold of $ 9,000 during the day yesterday, reaching up to $ 9140. However, the value of $ 9200 is a level of resistance that the cryptocurrency could not overcome. Currently, BTC is around $ 9,100.

Overall, the crypto market has grown by about $ 10 billion, reaching a total valuation of nearly $ 260 billion. Most of the top cryptocurrencies followed the example of Bitcoin, registering percentage increases between 3 and 10% during yesterday.

“Bitcoin Whales” accumulate

According to reports from Whale Alerts, two days ago, approximately 15,000 BTC (over $ 130 million) were transferred to Bitfinex wallets. Transaction fee was less than a dollar, confirming the benefits of Bitcoin as a payment system. The funds were transferred from the offline portfolio of the exchange into the active one, signaling the need for liquidity on the platform.

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The following day, 5,000 BTCs were transferred from Bitfinex into an unknown wallet. Also yesterday, a second “whale” moved its OKEx coins into the wallet – over 1,800 BTC (nearly $ 17 million).

These high-value transactions may signal that Bitcoin whales are accumulating while waiting for the May halving.

Max Keizer – coronavirus outbreak will push BTC over $ 100,000 threshold

In the most recent edition of The Keizer Report, well-known Bitcoin promoter Max Keizer said that global coronavirus panic will have a profound impact on Bitcoin’s evolution this year.

He explained that 2020 was “the second part of the global financial crisis”, which began in 2009 when the Bitcoin whitepaper was published.

“… Now, Bitcoin will experience the second part of the global financial crisis – it’s already close to $ 10,000 per coin,”

said Keizer.

“This is the global financial crisis that will catapult the price up to $ 100,000.”