Bitcoin Whales On The Move – Is A $100,000 Price Tag Coming?
June 21 2024 - 1:00AM
NEWSBTC
Bitcoin keeps catching the attention of investors and analysts with
its price changes and big moves. Recently trading at $65,715,
Bitcoin’s small increase of nearly a percent in the last 24 hours
has sparked some cautious optimism among crypto fans around the
world. This newfound confidence is boosted by big whale activity
and positive long-term predictions from top analysts. Related
Reading: 87% Of Bitcoin Hodlers Laughing All The Way To The Bank –
Here’s Why Big Investor Buys $395M Worth of Bitcoin A well-known
crypto whale has made headlines by buying 6,070 BTC, worth about
$395 million. This is the whale’s first big purchase in over 18
months. Known for smart trading moves, this investor previously
bought 41,000 BTC during the 2022 market dip at an average price of
$19,000 per BTC. In a brilliant move, the whale sold 37,000 BTC
during the market upswing in 2023 and 2024 at an average price of
$46,800, making a huge $1.74 billion in proceeds and over $1
billion in profit. This latest purchase shows the whale’s renewed
faith in Bitcoin’s future, hinting at big price movements ahead.
Analysts Predict Bitcoin Could Reach $100,000 Top crypto analysts
are very optimistic about Bitcoin’s future, with some predicting it
could hit $100,000. Ali Martinez, a respected crypto expert, points
out that over 70% of all open Bitcoin positions on Binance are
bullish. 70.27% of all accounts in @binance with an open #Bitcoin
position are going long! pic.twitter.com/PiGZp0rP58 — Ali
(@ali_charts) June 19, 2024 Another analyst, who goes by the name
Jelle, notes that Bitcoin has recently hit important support
levels, like the 100-day Exponential Moving Average (EMA) and the
lower edge of an ascending triangle pattern. Jelle believes a
bounce from these levels could push Bitcoin to $72,000 soon, paving
the way for a potential rise to $100,000 in the long run. These
predictions are in line with a broader optimistic view, as many
believe Bitcoin’s current price is a good buying opportunity. More
Bullish Signs On The Horizon Bitcoin’s recent price movement isn’t
just drawing in individual investors. More big institutional
investors are showing interest, which shows growing confidence in
Bitcoin’s value. Large investments from well-known figures and
companies signal wider acceptance and integration of Bitcoin into
mainstream finance. Related Reading: Whales Dump Over $1 Billion In
Bitcoin: Fire Sale Or Foreshadowing? Meanwhile, Bitcoin price
prediction for July is bullish, indicating a potential 30% rise to
over $85,000, according to crypto price tracker CoinCodex. This is
despite current technical indicators leaning bearish. This suggests
a potential disconnect between market sentiment and price action.
The Fear & Greed Index at 60 (Greed) further highlights
this dissonance. While the price has seen nearly half bullish days
(47%) over the past month with relatively low volatility (2.29%),
underlying technicals may be pointing to a different story. It will
be interesting to see if the predicted price increase comes to
fruition or if the bearish undercurrents prevail. Investors are
closely watching Bitcoin’s price movements, looking for
opportunities that could signal new highs. Although the path to
$100,000 is full of uncertainty, the strategic insights from market
veterans and increasing institutional interest provide a solid
foundation for Bitcoin’s long-term potential. Featured image from
Pexels, chart from TradingView
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