Bitcoin whale moved after 10 years: Why?

According to on-chain data, a Bitcoin whale has made a move for the first time after remaining dormant for a long time.

Mt Gox's transfer of $2.7 billion worth of Bitcoin from a cold wallet to an unknown wallet shook the cryptocurrency market. In addition to Mt Gox's transactions, the German government also made Bitcoin transfers. After consecutive transactions, BTC price dropped to 53 thousand dollars.

Although the negative process continues in the cryptocurrency market, it has been seen that BTC is trying to recover in the last 24 hours. The leading cryptocurrency broke the 56 thousand dollar barrier and became a lifeline for altcoins.

In the middle of all these processes, a whale transaction was reflected in the on-chain data. It was noteworthy that the whale woke up from sleep years later and moved its BTCs to another wallet.

According to Lookonchain's data, a whale made a transaction for the first time in 10 years and 3 months. The whale wallet, which has been dormant for years, transferred 1,004.5 $BTC ($56.9 million) to another wallet during the day.

Lookonchain announced that the whale purchased 1,004.5 BTC at an average price of $735 between November 25, 2013 and March 13, 2014. At that time, Balina paid 738 thousand dollars for these BTCs. If the whale sells all of its BTCs, the amount it will receive corresponds to 56,837 million dollars.

The period when the whale, which made a big profit, woke up from hibernation also attracted attention. The wallet, which was dormant even in March when #BTC was at an all-time high, moved during a major crash.

In recent days when Bitcoin miners and whales have been selling, it has started to be talked about that the whale, which has not moved for more than 10 years, will also sell.