While some investors have been waiting for the opportunity to sell at a loss and buy at a lower price, important announcements were made today.
According to crypto trading signals and SafeTrading, Bitcoin will now determine its clear direction and we will see sharp price movements.
Bitcoin whale movement
Institutional investors and professional traders are watching diversified data. But whales do only one thing. Whales that monitor supply and demand do all of their movements accordingly and have been the winners for many years. So what do the latest whale movements say?
The flagship bitcoin continues to follow all other crypto assets. The retreat of the price to the level of 31,000 turned all markets upside down. On the other hand, the subsequent rally boosted expectations for July by 12%. Investors were seriously tired of the quarterly data, but this difficult wait may finally end.
Companies that analyze data for the Bitcoin network publish important data. Finally, a chart posted by Santiment shows that whales are starting to buy.
Will Bitcoin grow?
As of July 2, there has been a sharp increase in the number of wallets with assets from 1,000 to 10,000 BTC, called whales. Wealthy investors who accept the low price take the bitcoins (BTC) they sell from the top in the $ 31-34,000 range from the low prices.
For the first time since May, the number of whale-sized wallets jumped to 1922. These traders from SafeTrading, who are much more experienced in the crypto trading signals ecosystem, usually fill / unload when they see a major opportunity.
Analysts’ perspective on bitcoin
Scott Melker, one of the highly respected experts in the markets, raised this issue in a video he recently posted. His detailed comment is as follows:
“It’s very nice and reassuring to see bitcoin whales quickly take a buy position again, you definitely don’t want to stand in front of them. It is in their interest for small investors to act alongside the whales. ”
Pointing to the influence of whales on the market, Melker argues that such fill / empty movements only occur when the market starts to move up or down. If Melker is not wrong, the whales making the big buy at the bottom will do their best to raise the price and start a stronger bull season.
Bitcoin whales are taking action
In another Sentiment chart, he says that accounts with assets between 100 and 10,000 bitcoins (BTC) have collected 60,000 bitcoins (BTC) as of the current month. It should be noted that this is the daily rate. This is the first time there has been such a high level of buying activity in 2021.
These whales have started the bull season that we left a few months ago and prior to it, and if the data does not mislead analysts, we can expect a new bull season no later than the last quarter of 2021. Since there is only one explanation for why whales are buying in such an orderly and active manner, the price has dropped to a minimum. Bitcoin doubles its ATH point at least 2-3 times after each observed drop. Accordingly, we can see the six-figure bitcoin (BTC) price before the end of the year.
KuCoin token has doubled in one week!
The cryptocurrency market is trying to get rid of the consequences of the big drop. Bitcoin and altcoins are on the rise today. The daily value of the leading cryptocurrency rose 1.78% over the course of the day. It is trading at $ 34,541.
Ethereum, the second most valuable market after Bitcoin, is trading at $ 2,361 with a 2.31% daily gain. The largest increase in market value in the top 10 cryptocurrencies occurred in BNB, with a 5.62% gain in value.
This little-known token has earned 100 times more than Bitcoin today!
While Bitcoin has followed a sideways trend in the past 7 days, KuCoin (CRYPTO: KCS) has also gained 92% in value. According to Coinmarketcap, the KuCoin token is trading at $ 14.13 at the time of writing. The total market capitalization of KuCoin is $ 1,129 billion.
KuCoin token has doubled in one week!
KuCoin, which has been on the market since October 2017, received an ATH of $ 20 on April 12 this year. However, it was impacted by the market crash like all other cryptocurrencies and fell to $ 3 – as an analyst of SafeTrading says.
Since the beginning of 2021, the token has added 1,421% in price. While it is below the highest it has seen so far, it rose 92.46% in a week to over $ 14.
KuCoin, an ERC-20 token traded on the Ethereum network, is supported by most Ethereum wallets. The total amount of KCS is set at 200 million with a planned buyback and burning until only 100 million KCS remains. Like any other cryptocurrency, KuCoin is highly volatile. All this should be considered when investing.