Where is 50,000 BITCOIN Now?

Where is 50,000 BITCOIN Now?

By insidetrader | HODL the Universe | 7 Apr 2020


The blockchain technology allows you to track all transactions. With using this nature and smart brains, people created this website which allows you to follow huge Bitcoin transactions easily. On the website, there’re lots of small transactions on display. But when you follow the Twitter account, it allows you to track bigger Bitcoin transactions which contains at least 500 Bitcoin in one single transaction. Even some Bitcoin holders send 499 Bitcoins in one transaction to avoid being tracked by ‘’Whale Alert Bots’’.

Within this world, there are also some people which doesn’t care being tracked by these bots or not. Today at 02.41 AM UTC, nearly 50,000 BTC sent from unknown address to another unknown address. But it’s not the end-step because these Bitcoins didn’t stay here. After 4 more transactions which again contains nearly 50,000 BTC in total, the last recipient address of these Bitcoins is here. They haven’t gone anywhere yet. But when we check this address it seems that the owner of this wallet loves to play with his/her money. Because there’re lots of huge amount Bitcoin transactions in and out. Or according to some theories, it happened because of one of the exchange security processes. Because as you know, they don’t prefer to hold these funds in regular wallets to avoid from stolen fund history. But it's not totally clear to know what's the reason behind the 50,000 BTC transfer. Please share your opinion on comments parts so we can get more information.

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Normally, after we see some deposits into big exchanges like OKEx, BitMEX and Binance; there will be hard dump on Bitcoin price even with lower amounts like 500 or 700 Bitcoins. But for today, it’s a little bit different because this transactions’ last station is not an exchange. So expecting a hard dump is not good choice for now. But in my opinion, the Bitcoin price will dump after touching 76xx-77xx. At that time, many of traders believe more and more pump and get FOMOed by Bitcoin. So I'm still bearish and want to see big red candles!

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insidetrader
insidetrader

Freelance crypto writer & translator


HODL the Universe
HODL the Universe

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