Whales accumulated over $929M in Bitcoin in the last two weeks, should you BTC now?

Crypto Update
3 Min Read

bitcoin (BTC/USD) whales are showing signs of continued accumulation, which is rare this crypto winter. The whales have collectively added 46,173 BTC ($929 million) to their wallets.

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Bitcoin It is the largest cryptocurrency in terms of market capitalization as well as overall appeal, and has been badly hit by the crypto winter.

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However, as confidence in BTC increases, this accumulation could signal a bullish future for the cryptocurrency.

Whale accumulation as a catalyst for evolution

in the latest bitcoin newsSince September 27, addresses holding 100 to 10,000 BTC have collectively added 46,173 BTC to their wallets, as large as tying rope ,USDT/USD) has decreased in holdings, a . According to report of sentiment

Source: sentiment

The trend is a turnaround from the 11-month-long drop in whale BTC holdings, which was also previously reported by Santiment.

This latest accumulation is a sign that the BTC market has possibly reached a bottom and may be ready for an upward rally.

When we look at data from Btc.com, we can see that the mining difficulty of bitcoin has reached new heights.

As of October 10, 2022, the difficulty is 35,610,794,164,371m, the hash rate is 259.68 EH/s.

Source: btc.com

However, as we move on to its recent performance, we can see that things are looking up for this cryptocurrency.

Should You Buy Bitcoin (BTC)?

The value of bitcoin (BTC) on October 10, 2022 was $19,371.

BTC/USD chart by TradingView.

The all-time high of the Bitcoin (BTC) cryptocurrency was on November 10, 2021 at a price of $69,044.77. Here we can see that at its ATH, BTC was valued at $49,673.77 or 256% higher.

When we look at its 7-day performance, Bitcoin (BTC) was valued at $19,180.60 while it had a high of $20,420.51. Here we can see that BTC experienced a price difference of $1,239.91 or 6%.

Taking a look at its 24-hour performance, Bitcoin (BTC) had a low of $19,182.52 while it had a high of $19,550.72. Here we can see an increase in its value to $368.2 or 2%.

With all this in mind, investors probably want buy btc And start accumulating the cryptocurrency, as there are signs that it could climb to over $21,000 by the end of October 2022.

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