Bitcoin Wallets Activity Increased The Reason for Sudden Pump
The number of activities on the blockchain has increased dramatically from the past couple of weeks.
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According to the report, published by a crypto firm Flipside Crypto that 50 percent of total Bitcoins are stored in wallets that are not active from one to six months. Eric Stone, Co-founder of Flipside Crypto that “there are more people who are looking to get on the board (buy Bitcoin).”
Stone further added that this is good news for crypto optimists. The party is just started and this will stay longer than the previous one (bull market of 2017).
The sudden move is a result of few whales buys $100 Million of Bitcoin. The large bag holders are shifting positions from short to long. This is the
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Experts said that the current market movement is a result of algorithmic trading. Algorithmic trading is a method in which bots are used to detect the trend of the market and trades has been made.
Bitcoin daily trade volume make a new all-time high. Yesterday, the daily volume touched $89 Billion. This is the highest volume in Bitcoin History (Since 2010). This volume is a sign of that bears are no longer in control. The bulls are taking control and start accumulating.
Bitcoin made a new all-time high of 2019 and the price goes to $5300. Bitcoin showing consecutive green candles on a
