2000 BTC Worth $10M Transferred From Unknown Wallet to Bitstamp
2000 BTC Worth $10M Transferred From Unknown Wallet to Bitstamp

By Tokenhell.com | Tokenhell | 15 Mar 2020


Is Bitcoin Price going to dump again?

This huge transfer of Bitcoin has just occurred two days after the leading digital asset suffered from its 10-months’ biggest price crash by dipping heavily down from $7200 to $5500 level around where its price is standing at the moment.

Whale alert, which tracks large crypto transactions from and to exchanges, has highlighted this transfer and reports that 2000 BTC worth of 10,601,299 USD has been transferred from an unknown wallet address to the cryptocurrency exchange Bitstamp.

Also Read: Ethereum’s Gitcoin Adds “Public Health” Section to its Next Round of Fundraising to Combat Coronavirus

Who is behind this Transfer? BitMEX traders or PlusToken scammers

It has not been yet known who is responsible for this transfer however there are two suspects who might be behind it either BitMEX traders or PlusToken scammers.

It is being expected that these funds may have come from the BitMEX traders. The reason might be the sell-liquidations that occurred on the BitMEX trading platform because of the recent price drop. Around 90% of all derivative contracts had been closed on Thursday following the forced liquidations of the long contracts.

PlusToken scammers can also be suspected for this large transfer because they have not yet moved their fraudulent Bitcoins from last week and therefore, it is likely that they may have made a transfer to Bitstamp exchange to dump their bitcoins.

Also Read: Morgan Creek Digital co-founder Believes both Bitcoin and Gold are doing the same in Liquidity Crisis amid COVID-19

Is Bitcoin Price going to dump again?

Whenever funds get moved from an unknown wallet to a major crypto exchange, it means that something bad is going to happen which worries people. It is not yet revealed what is the intention behind this transfer however it is expected that these 2000 Bitcoins worth $10 million can be sold on the market. This will accelerate the bearish trend.

Looking at the present situation and volatility of network, some people in the community believe that another bitcoin price dump is likely coming. Twitter users’ negative reaction about the intentions of this large Bitcoin transfer is also an indication of the next bitcoin price dump.

Also Read: What Bear Market? Brave Buys Back More Than 534,000 BAT Tokens

 


Tokenhell.com
Tokenhell.com

Tokehell is a Google News Approved Blockchain & Crypto News Agency Where You Can Discover News About Cryptocoins, Technical analysis, Blockchain Events, Coin Prices Marketcap And Detailed Reviews on ICOs, IEOs. STOs.


Tokenhell
Tokenhell

Tokehell is a Google News Approved Blockchain & Crypto News Agency Where You Can Discover News About Cryptocoins, Technical analysis, Blockchain Events, Coin Prices Marketcap And Detailed Reviews on ICOs, IEOs. STOs.

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