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Bitcoin Whale Alert: 20355 BTC moved out of Binance and Bitfinex

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In the last 14 hours, around 20355 bitcoin was transferred from cryptocurrency exchanges to unknown private wallets of large investors.

Bitcoin price has been showing bullish momentum from the last days after falling massively since the last month. Cryptocurrency Analysts are predicting that the price of bitcoin can soon hit the next resistance close to $4400 level and bitcoin can even rise up to $6000 if the resistance is broken. Amidst the bullish momentum, investors are withdrawing their bitcoin holdings from exchanges at least for the time being. In the last 14 hours, around 20355 bitcoin was transferred from cryptocurrency exchanges to unknown private wallets of large investors. Here are the details of the transactions:

 

Transaction 1: 1706 BTC transferred from Binance to an unknown wallet

https://www.blockchain.com/btc/tx/44dcc05eeccc0bfb937c591ad8afd6e6e377981e8249490709f6c6bd8cf37e55

 

Transaction 2: 1567 BTC transferred from Bitfinex to an unknown wallet

https://www.blockchain.com/btc/tx/bea31fdecb02e5923d0e1b29c78344e269c89c73e68609db353664c35d6cb771

 

Transaction 3: 1598 BTC transferred from Bitfinex to an unknown wallet

https://www.blockchain.com/btc/tx/240661e9a4fb7f53c21b105109b64c8f89df23624f66395b4e5e795da8469ebc

 

Transaction 4: 2000 BTC transferred from Binance to an unknown wallet

https://www.blockchain.com/btc/tx/ae3435df440b3febb1bf6539256680a08b4b7168dcee3f9e1f147cd45d45df44

 

Transaction 5: 2000 BTC transferred from Binance to an unknown wallet

https://www.blockchain.com/btc/tx/c952cff3f4dce3bb583c08c9cea7cdd47bbd98af3c271df49bffcee7753d552d

 

Transaction 6: 2000 BTC transferred from Binance to an unknown wallet

https://www.blockchain.com/btc/tx/5ce04fe6a0a24d6857b81edd73f3235c5de82aeb20ffe05b53b575614da7ec21

 

Transaction 7: 1691 BTC transferred from Bitfinex to an unknown wallet

https://www.blockchain.com/btc/tx/0006436ed9486100f33b07224f91792f91e4d32952c38453993057b66413fc44

 

Transaction 8: 1690 BTC transferred from Bitfinex to an unknown wallet

https://www.blockchain.com/btc/tx/45bf1fe9af294bfdf3aaff67203cf01325e29fc770f6e7262ded603b47e6a809

 

Transaction 9: 1853 BTC transferred from Bitfinex to an unknown wallet

https://www.blockchain.com/btc/tx/1750a2f9cceff43cc39dd2158a5c3445c2408dc2f627ebca3c6d4b078d5429db

 

Transaction 10: 1957 BTC transferred from Bitfinex to an unknown wallet

https://www.blockchain.com/btc/tx/1cea3f38de54361b238a4699f4a47472211afa6f528109e02f0fe35d034cdb72

 

Transaction 11: 2293 BTC transferred from Bitfinex to an unknown wallet

https://www.blockchain.com/btc/tx/2146b9ce8cf96ac4498a7ee6acac755c1254d31cc0b7bcf4a3237d4d43b78b2b

 

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 quite volatile.

#Bitcoin

Cryptocurrency Price Analysis: Great Week for the top 10

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The current week has proved to be quite amazing for the cryptocurrency market as all major coins are holding green. The total cryptocurrency market rose by around $1.5 billion yesterday night with the price of bitcoin reaching $4100.

 

Bitcoin:

BTCUSD Price Chart

BTC/USD Weekly Price Chart

Bitcoin broke the $4000 resistance level on 17th March and has been over this range since then. Bitcoin has turned the previous resistance into strong support now and has moved upwards slowly currently trading around $4120 (according to Bitfinex chart) with around 1% increase in the last 24 hours. If bitcoin is able to maintain its position above $4100 range for long, it might soon move ahead towards the major long term resistances such as $4500 and $4600.

 

Altcoins:

ETHUSD Weekly Chart

ETH/USD Weekly Chart

Ethereum also saw a nice bullish momentum this week after reaching the highest point of $143. Currently, Ethereum is trading nicely around $140 and is experiencing a few dips while trying to move upwards.

Unlike other top 10 coins, Ripple market is experiencing volatility from the last week but the momentum is still quite bullish.

LTCUSD Weekly Chart

LTCUSD Weekly Chart

Litecoin has been following trends and is steadily trading around $60 from the start of the week. Litecoin has increased more than 1.67% in the last 24 hours which makes it the best performing crypto of the day (in comparison with the top 10 cryptos according to market capitalization). LTC is currently trading around $61 (according to Bitfinex chart).

 

The overall cryptocurrency market is in a bullish momentum with sings of further gains. After a long bearish trend, cryptocurrency analysts are now believing that the bull market might be coming soon.

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#Bitcoin

Tom Lee: Bitcoin Bull Market Coming Soon

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Tom Lee, the co-founder of Fundstrat Global has predicted that the price of bitcoin will likely experience a bullish run in the next 5 to 6 months.

Tom Lee, the co-founder of Fundstrat Global also known as the bitcoin bull has predicted that the price of bitcoin will likely experience a bullish run in the next 5 to 6 months. Lee predicted this during an interview with the CNBC. According to Lee, the 200 daily moving average is the number to keep in mind. If bitcoin is able to stay above $4000 till August this year, it will cross the 200 daily moving average and thus technically the overall chart would start to look bullish.

During the interview, he also mentioned that the future of bitcoin and other cryptocurrencies lies on the fact of whether it becomes an asset class and bitcoin is still in the early days of becoming one. Although Tom Lee has been quite bullish about the price of bitcoin, Fundstrat had recently posted a warning that the cryptocurrency market might crash to a new bottom before actually starting a bull run.

 

Tom Lee on JP Morgan Coin:

In the interview, Lee also expressed his concerns regarding the recently launched JP Morgan Coin which is a stablecoin launched by the banking giant JP Morgan Chase. He said that things such as the JP Morgan Coin and Facebook Coin create use cases for cryptocurrencies and according to him, the JPM Coin is surely not a competitor to bitcoin as it is a stablecoin in nature.

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#Bitcoin

Alert: Bitcoin Breaks Record, Highest Hash Rate Since November 2018.

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The hash rate of bitcoin which is the power that secures the bitcoin network has recorded the highest level yesterday (19th March) since last year November.  The Bitcoin hash rate passed over fifty-two quintillion hash per second in accordance with the data feed on Blockchain.com.

 

Bitcoin Hash Rate:

Bitcoin hash rate is the computation of the performance of bitcoin miners. In simpler terms, as the hash rate goes higher, the bitcoin network becomes more secure. It becomes more difficult to attack the bitcoin network as an attacker would need increased resources in order to attack the network. The increasing hash rate also depicts the increase in the number of bitcoin miners. As the BTC mining difficulty level is quite stable now, more and more miners are joining the bitcoin network. Although, the increasing hash rate would eventually result in an increase in the overall difficulty level.

bitcoin hash rate 19th march

Bitcoin hash rate 19th March 2019

 

The bitcoin network security is at its peak since November last year. The highest hash rate ever recorded has been around 62 quintillion hash per second in August last year. Looking at the current chart, it depicts that the hash rate might even cross this level in the coming time.

 

The increased hash rate also builds up confidence in the minds of the miners as it shows the overall security of the bitcoin network and thus predicting a secure future of the investment of the miners. Thus, overall, more and more miners are now joining the bitcoin mining network after a subsequent decrease last year which led to a lot of miners moving out of the mining business. Bitcoin price analysts believe that the hash rate of the network follows the price of bitcoin as it helps them in speculating the future price of BTC.

 

During last year’s bear market, the hash rate also fell drastically which led to a lot of miners shutting down and the mining equipment were being sold at waste prices. Now as the hash rate is rising, miners are again turning on their mining rigs and moving back to business. It is also worth examining that the current hash rate of the network is even more than the recorded hash rate in December 2017 when the price of BTC went up to $20,000.

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