Bitcoin which is the world’s most valuable cryptocurrency is breaking above $100,000 due to the fact that top companies and rich investors have increased in the bitcoin space.
However, due to the increase in the number of rich investors, crypto traders and investors have also rushed into the bitcoin space to have a stake in the fast-rising crypto asset.
Aside from the increase in bitcoin price and rich investors, the Bitcoin Block Bot has recorded that someone moved 14,834 BTC $853 million in block 671,619.
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Whale alert! 🐋 Someone moved 14,834 BTC ($853M) in block 671,619 https://t.co/RhwWJ2MkvS
— Bitcoin Block Bot (@BtcBlockBot) February 21, 2021
Such strong demand on the world’s flagship crypto asset by large entities is keeping it within striking distance of $60,000.
Bitcoin is traded at $57,048.20 at the time of writing this article with a trading daily volume of $52,720,140,286, which represents that bitcoin is up by 0.97% for today.
According to a source,
As large entities accumulate BTCs, bitcoin’s circulating supply reduces, and this can weaken any bearish trend bitcoin finds itself in.
Bitcoin has received recommendations from top companies like Mastercard and America’s oldest bank, BNY Mellon recently.
Paypal and the world’s largest asset fund manager, BlackRock are currently moving to support cryptocurrency.
This means that this year might be a good year for bitcoin in terms of its price appreciation.
Bitcoin Block Bot has recorded that someone moved 14,834 BTC $853 million in block 671,619.
According to a source, As large entities accumulate BTCs, bitcoin’s circulating supply reduces, and this can weaken any bearish trend bitcoin finds itself in.
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