Bitcoin Whale Alert: 13095 BTC worth $52.38 million transferred to Bitfinex

In the last 24 hours, the bitcoin price is up by around 3.5% currently trading above $4000 (At the time of writing). The situation is however still bearish for bitcoin and other cryptocurrencies which experienced a massive downfall from over $6000 to the yearly low of around $3200 last month. As per the market analysts, yesterday’s bullish move which pushed the price of bitcoin from around $3850 to above $4000 is probably a dead cat bounce as the trading volumes were very low in comparison to the volumes which pushed the price of bitcoin downwards. Also, the total market capitalization of cryptocurrencies still stands at around $133 billion which is approximately the same as of yesterday morning, so there has not been any significant investment injected into the markets.

As the price of bitcoin is being predicted to go lower this year end which some of the prominent analysts are predicting to reach around $2500 before the year-end also stating that the current bear market will last for at least some months from now, investors are trying to get decrease the amount of losses they have been facing due to the bearish trend. In the last 24 hours, 13095 Bitcoin worth around $52.38 million was transferred to Bitfinex exchange probably to sell at the best rate possible before the bears start to act again.

Here are the details of the transactions:

Disclaimer: The following article is not financial advice. The readers are advised to do thorough research and analysis before making any investment decisions in the cryptocurrency market which is highly volatile.