An anonymous cryptocurrency enthusiast capitalized on this week's dramatic bitcoin price plunge by scooping up $400 million worth of bitcoin. (Source Investopedia)
Cryptocurrencies have had a tumultuous start to 2018. At the start of the new year, many digital currencies were riding a wave of price growth, and the market capitalization of the industry grew to the point that a $1 trillion valuation didn't seem unreasonable. Then, early in the new year, prices collapsed, and many of the top 20 cryptocurrencies slumped considerably.
While the price dump may not have been the cryptocurrency bubble pop that many analysts have predicted, it did mean that top cryptocurrencies, even industry leader bitcoin, fell to their lowest levels in months.
Although bitcoin dipped below $6,000 per coin in early February, according to Market Watch, the price has since risen considerably. In fact, it has climbed by more than 60% in the past two weeks or so, finally climbing back above $10,000.
Who Is The Bitcoin Whale?
Apparently, the anonymous cryptocurrency trader who made a major investment in the currency imagines that this upward trend will continue. Nonetheless, bitcoin's price remains far below its all-time high of just under $20,000 per coin, attained late in 2017.
Who was the trader who made the astonishing investment? For the time being, his or her identity has been difficult or even impossible to surmise. "Not sure who that big buyer was, but many have bought this dip and have added since the rebound and additional regulatory clarity in the U.S. and Asia," said Tetras Capital founding partner Alex Sunnarborg.
The purchase was made between February 9 and February 12 to an account associated with the bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64. That account has seen its bitcoin balance balloon from 55,000 BTC up to more than 96,000 BTC.
The actions of one anonymous trader may have an impact on the cryptocurrency industry at large. "The $400 million whale is fuel for the Telegram channels where traders lay out their conspiracy theories," remarked 360 Blockchain USA president Jeff Koyen.
Cryptocurrency bulls have begun to argue about the direction of the price of the world's top digital currency. If bitcoin continues to gain back value, the anonymous buyer could soon find him or herself in the crypto billionaire circle.
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Gracias por la información, saludos
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You're welcome :) sharing is caring !
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We always wait for new from you but not disappointed with our thank you for sharing
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thank you man :)
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Hey man, I'm a new user like you. Do not let those guys with lot of steem power tell you what to do. They also trying to take me down because they afraid of our growth and want to monopolize the attention on this platform. Keep promoting yourself even if they call it Spam. They are the spammers
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haha thank you for the advise man i really appreciate it :) and i totally agree. I will be there for following your next post and i follow you man. Glad to have you in the family. And long live Steemit freedom :) Peace. CS
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I also follow you. Do not take abuse from those guys, I think your content is more valuable than theirs. They only get attention because they got in steemit early on and bought tons of steempower when the price was very cheap. Now they want to act like the owners of this platform. We should do something to unite against their abuse. Cheers!
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Yes it's pretty annoying i agree :) But i think the best way to react is to ignore them and to keep being nice with people and posting interesting content for them. i really appreciate your comments and support. It's really nice to have someone standing up for you. Greetings from France my friend.
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I think if we ignore them they will continue abusing people that's why I get upset and swear at them. If we keep silent they can continue abusing. If we speak they will think twice before abusing new users. Anyway, you have my support all the way. Good luck
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And you have mine for sur as well and good luck for you as well :) As i said, i will be there for you my friend. Peace.
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I have written a post about this abuse. If you are keen here is the link. If you agree resteem pls
https://steemit.com/abuse/@stevekelly/help-me-stop-abuse-in-steemit-and-earn-sbd-usdusdusd-name-and-shame-initiative
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