Bitcoin, Crypto currency, Blockchain

Bitcoin whale, with more than 90,000 BTC pushes Bitcoin to Huobi Exchange large Sell Off?

A Bitcoin whale has accumulated since March of this year and up to the present day, a tremendous crowd of more than 90,000 BTC and a part of it in the last few days again back to one of the largest Exchanges in the world, Huobi, pushed. The assets of more than $ 700 million to belong to a large “Asian whale”.

This is distributed to the majority of the Bitcoin-bound capital, with a few Wallets, and thus bitcoin owners, is well known and no secret. A major bitcoin capital owner of the wallet address 1KAt6STtisWMMVo5XGdos9P7DBNNsFfjx7 has accumulated since the beginning of this year, a assets of 93.947 Bitcoin, and a wealth of nearly US $ 700 million.

In the last few days, this address has started sending of 8,000 BTC to a Wallet of the Exchange Huobi. These movements were detected by an Administrator on the Chinese forum 8btc.com and investigated.

The observers do, that this address has always bought a lot of Bitcoin, if the Bitcoin price fell strongly (freely translated):

The BABI-financial statistics has found out that the account tends to buy Bitcoin when it drops. This account is now the sixth largest Wallet in the Bitcoin network. The five largest Bitcoin wallets are owned by exchanges.

The address is one of the 6 richest Bitcoin wallet address in the world, and holds a fortune of just $ 660 million at the time of writing, although there are already almost 8,000 BTC sent to a Wallet of the Huobi Exchange.

According to the statistics collected this Bitcoin whale has received the bulk of his Bitcoin by wholesale Transfers of individual accounts. Currently, the speculation making the round that the account owner could prepare a Bitcoin Sell-Off.

However, the administration team of the Chinese forum that it might as well be a long-term investor (freely translated):

We don’t know who the owner behind this mysterious Bitcoin Account. This is one of the charms of the Bitcoin network. In terms of the traditional financial market, the administrator of this account can, however, be an Institution for long-term investments.

As we already reported, led Mt, the sales of the Trustee of the bankrupt bitcoin exchange. Gox, a similar scenario would be multiple to a subsequent fall in prices, so that in this case, is conceivable.

Whether any Sell-Off is being prepared, or this account will allow movements to the other targets, known only to the wallet owner. Nevertheless, it is left in the crypto market, in our opinion, almost nothing to chance and follows a higher-level strategy. Whether it actually comes about, must be observed.

The price of Bitcoin is at the time of writing at 6.506,01 Euro and moved within the last 24 hours of sideways (0.30 per cent price increase). The market capitalization is just under 111 billion Euro and the volume of trading on the last day at 3.4 billion euros.

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