“Whales” Increased Their Investments In Bitcoin By $ 2.8 Billion In Five Days

During this period, large holders of the first cryptocurrency bought 43 thousand BTC, follows from the data of the analytical company Santiment
Large Bitcoin holders, whose addresses are from 10 thousand to 100 thousand BTC, have increased their investments in the first cryptocurrency by $ 2.8 billion over the past five days. During this period, the “whales“ bought 43 thousand BTC, according to the analytical service Santiment . 
Analysts believe that the active period of cryptocurrency accumulation could cause its sharp rise by $ 3.5 thousand on the night of November 8. Over the past 25 days, the “whales” bought 93 thousand bitcoin ($ 6.1 billion, taking into account the current exchange rate at 17:45 Moscow time).







Investors are called "whales" - large holders of digital assets.

🐳 #Bitcoin made a major leap in the early Monday hours, and crept up above $66k briefly as most #altcoins lagged behind. Large whale addresses holding 10k to 100k $BTC have accumulated 43k more $BTC and increased their bags +2.1% in just the last 5 days. https://t.co/I2LmF24XDc pic.twitter.com/Rn3swKcjVA
— Santiment (@santimentfeed) November 8, 2021





 






bitcoin is trading at $ 65.3 thousand. During the day, the asset has risen in price by 5.5%, and its capitalization has increased to $ 1.23 trillion. The cryptocurrency is recovering after it dropped below $ 58 thousand on October 28. Since then, the asset has risen in price by 13%.





Earlier, analysts at the investment bank JPMorgan called the fair value of bitcoin at $ 35 thousand. Experts compared the first cryptocurrency with gold and emphasized that the volatility of a digital asset is four times higher than that of a precious metal.
 Experts believe that if the fluctuations in the bitcoin rate are halved, then the goal of $ 73 thousand can be called reasonable.