{"id":448073,"date":"2020-10-27T20:00:50","date_gmt":"2020-10-27T20:00:50","guid":{"rendered":"https:\/\/wncen.com\/?p=448073"},"modified":"2024-06-11T14:07:39","modified_gmt":"2024-06-11T14:07:39","slug":"bitcoin-whale-wallets-with-1000-btc-or-more-spike-to-highest-levels-in-history","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-whale-wallets-with-1000-btc-or-more-spike-to-highest-levels-in-history\/","title":{"rendered":"Bitcoin Whale Wallets With 1000+ BTC Or More Spike To Highest Levels In History"},"content":{"rendered":"
Bitcoin price<\/a> is only a mere few hundred dollars away from setting a higher high and confirming a new bull market. Coinciding with what appears to be a breakout ready to happen, whale-sized wallets holding more than 1000 BTC have surged to the highest level in the asset’s history.<\/p>\n Is this it \u2013 is the next cryptocurrency bull market based on Bitcoin’s block reward halving as the stock-to-flow model predicts, finally here?<\/p>\n Bitcoin has been bullish all throughout 2020<\/a>, even becoming the best performing mainstream asset beating out gold, stocks, and more. The leading cryptocurrency by market cap started off the year bullish, leading into the block reward halving in May.<\/p>\n But before the day arrived, the pandemic struck and the stock market selloff on Black Thursday caused Bitcoin’s uptrend to collapse.<\/p>\n The cryptocurrency and stocks have been on a tear since, with Bitcoin only recently decoupling<\/a> due to network effect and adoption metrics rising.<\/p>\n <\/p>\n For example, non-zero BTC wallets and active wallets have recently reached new highs, and now, even whale-sized wallets holding 1000 BTC or more have spiked to the highest levels ever.<\/p>\n Related Reading | Bitcoin Could Be Just One Week Away From A New Monthly All-Time High Close<\/a><\/strong><\/em><\/p>\n But what exactly is behind the sudden surge?<\/p>\n According to data, BTC addresses with a balance of 1000 BTC or more have grown to the highest level ever. These whales hold enough Bitcoin, that if the cryptocurrency ever reaches prices of $1 million per BTC as predictions reach, they’d have $100 million USD worth of the cryptocurrency.<\/p>\n Related Reading | Paul Tudor Jones: Bitcoin Is In First Inning, Like Investing In Apple Or Google Early<\/a><\/strong><\/em><\/p>\n And that could be precisely the reason for the number increasing. With the expectation that Bitcoin’s valuation could rise to such levels, whales are preparing for the long haul<\/a>. At current prices, that sized wallet worth of BTC would be valued at over $13 million today.<\/p>\n <\/p>\nBig Buyers Prepare For Crypto Bull Run By Accumulating Bitcoin<\/h2>\n
Whale wallets over 1000 BTC grow to historic levels | Source: Glassnode, via Arcane Research<\/a><\/pre>\n
Whale-Sized Wallets With 1000 BTC Or More Reach New Highs, Is Price Next?<\/h2>\n
Bitcoin closes in on setting a higher high for the first time since 2017 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n