On Thursday, March 19, Bitcoin demonstrated a rally from the mid $5,000 zone, making the price break the $6,000 level soaring up to $6,529.
As the flagship currency made a significant increase, some began saying it is time to take our money off the table. However, some major investors, it seems, on the contrary, are withdrawing BTC from crypto exchanges to their wallets for long term holding.
77,325 BTC sent from Binance
The Twitter bot Whale Alert has detected a mammoth-sized Bitcoin transaction and a couple of smaller ones over past few hours. Two of them were made from Binance to two wallets with unregistered owners.
77,325 BTC was moved from Binance ($477,007,433). 1,000 BTC went from an unknown wallet to the OKEx crypto exchange.
Earlier, U.Today reported that someone moved 14,000 BTC to an anonymous wallet (that’s $78,120,000) from the Huobi exchange by making twelve consecutive transactions, 1,000 BTC each.
Binance CZ comments
The head of Binance, Changpeng Zhao, has just now commented on the aforementioned transaction of 76,125 BTC. He rebuked Whale Alert for sharing inaccurate data and said that, in fact, only 10,000 BTC was transferred.
Will Bitcoin reverse or keep heading upwards?
Earlier, U.Today reported that crypto trader DonAlt tweeted a forecast, according to which, Bitcoin was going to plunge to the $3,800 area before rising to the $7,000 zone in August.
Other traders also assume that Bitcoin is going to go through an accumulation phase trading inside a range before a proper rise.
If the accumulation phase gets skipped they say, Bitcoin may drop again after a quick price increase.