With Bitcoin Price Falling…Third Largest Bitcoin Whale Adds $13 Million worth of (BTC)
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Answer With Bitcoin Price Falling…Third Largest Bitcoin Whale Adds $13 Million worth of (BTC)
With the rapid decline in the price of Bitcoin, the third largest Bitcoin address began accumulating Bitcoin at a discount again.
One of the biggest bitcoin whales bought over 200 bitcoins at $62,000 shortly after selling 1,500 bitcoins at $67,500.
Today’s purchase comes amid a massive correction in the price of the first cryptocurrency.
A CryptoQuant analyst named VentureFounder explained on Twitter that an anonymous Bitcoin whale has started collecting Bitcoin again.
I bought the dip a little early today, but it’s another buy:
third largest # bitcoin Added more whale wallet 207 #BTC Today at $62,000, totaling $12.8 million. This came after 1,123 BTC at $64K was added last Friday.
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This wallet now holds 108.528 BTC with an unrealized profit of $4.7 billion pic.twitter.com/BcoQLLuyyB
– venturefoundΞr (venturefounder) November 16, 2021
The entity behind this wallet has been very active in responding to the recent bitcoin price movements.
Earlier this month, this whale sold 1,500 bitcoins at $67,500.
When the asset began to recover in the following days, the same whale bought 1,123 Bitcoin on November 12 at an average price of just under $64,200.
Earlier today, the same whale made another purchase, this time 207 Bitcoin at $62,000 for $12.8 million.
Currently and at the time of publishing this article, this whale owns 108,528 bitcoins (at least at this address), which means it has an unrealized gain of $4.7 billion, according to VentureFounder.
Currently this wallet is under supervision if it will continue to buy or not.
The price of Bitcoin has continued to fall since the last purchase.
Bitcoin (BTC) fell below $60,000 for the first time since late October, but soon recovered and rose above $60,000 again.
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