Yesterday, I suggested that the correction was over. While Bitcoin is currently testing the resistance threshold of $ 10,000, the upturn in the traditional of the month of February to the approach of the chinese New Year seems to be confirmed. If all goes as planned, this means that these last days were a perfect opportunity to pass on the purchase. And this is exactly what a whale of Bitcoin : thanks to the balances, it has accumulated the tidy sum of 400 million dollars of BTC in the space of 3 days (source).
Its portfolio Bitcoin double volume
Sell at top and buy at the lowest : this simple rule of the trader to success seems to have been executed by a master hand in this fortunate investor. In a few days, its portfolio has increased from about 55 000 to 96 000 BTC. At the current rate, this means a fortune to a little less than a billion dollars in Bitcoin ! Thanks to the transparency of the chain of blocks, we can track all the transactions of each address. The one who is affected by these massive purchases is the 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64. Only the most important detail is missing : the identity of the investor in this mystery who has bet a fortune on the resumption of the bull market of crypto-currencies. All I can tell you is that even if I am also past the purchase, this is not me…
Seasonality of BTC – Source ZeroHedge
The posture less harsh in South Korea contributes to the recovery
According to Bloomberg, regulators in south korea have strongly downplayed the risks of an outright ban on the trading of crypto-currencies. The government had already disclosed a position in this direction when it was imposed on the exchange platforms the compliance of more stringent procedures regarding the identification of customers. In fact, why impose constraints and rules if the intention is to ban purely and simply the crypto-currencies ?
The south Korean government will therefore strive to create a legislation to make the trading more transparent. This is what was said by a Korean minister in a video posted on the website of the Korean presidency. Even if it flowed from the source, the official announcement has helped to reassure investors the most nervous. And this first co-ordinated response to south Korean authorities since the statements of the disturbing of December has had the desired impact.
Reversal of trend abrupt
We are so : after a conjunction of negative factors seasonal and temporary succession to drop the crypto-currency, today the planets align favorably for an overall increase in the complex. As shown in the chart above from Zero Hedge, historically the month of February is the starting point of a rise. Add to this the news that indicate that the regulators are simply going to regulate the crypto-currency market rather than prohibit and it gets all the ingredients for a bull market.