A 14.2-year dormant Bitcoin wallet suddenly became active, releasing 10,000 BTC worth over 1 billion USD.
This is the 7th time on the same day that a Bitcoin address that has been silent for over 14 years has unexpectedly been activated, drawing significant attention in the cryptocurrency investment community.
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A Bitcoin wallet that has been inactive for 14.2 years has just been activated with 10,000 BTC.
The value of this Bitcoin amount has increased from 33,999 USD in 2011 to over 1 billion USD currently.
Experts believe this ancient whale could be a miner from 2011 who once held 200,000 BTC.
What does it mean when a long-dormant Bitcoin wallet is activated?
This information reflects the unexpected movement of an extremely large Bitcoin supply, from a long-standing whale in the cryptocurrency market.
According to monitoring data from Whale Alert, a Bitcoin wallet that had been inactive for 14.2 years has just been used again, releasing 10,000 Bitcoin currently valued at 1.08 billion USD (based on the exchange rate on July 4th). This figure indicates a rare event that could significantly impact the cryptocurrency market.
10,000 Bitcoin belongs to a “dormant” wallet for over a decade, which just became active after more than 14 years – a rare and noteworthy event in the cryptocurrency field.
Whale Alert, Cryptocurrency Transfer Monitoring, 04/07/2024
Who is behind this ancient Bitcoin whale?
This could be an independent Bitcoin miner from the early days of the network, with the ability to control a large amount of Bitcoin that was ever in circulation.
According to a senior executive from a well-known cryptocurrency trading platform, this whale is very likely a 2011 miner who owned about 200,000 Bitcoin – a huge number at that time. The re-emergence of trading activity from this wallet shows that monitoring and in-depth analysis of long-standing cryptocurrency wallets is essential for predicting market trends.
An ancient whale trading suddenly after more than a decade of inactivity could change market sentiment, affecting Bitcoin supply and demand in the short term.
CEO of a cryptocurrency exchange, 04/07/2024
How has the recent activation of long-dormant Bitcoin wallets been?
The year 2024 has seen multiple activations of long-dormant Bitcoin wallets, reflecting a large shift of “old” Bitcoin.
This is the 7th time on the same day, July 4th, that a dormant Bitcoin address over 14 years has been activated again. This phenomenon indicates a shift of Bitcoin funds from early investors or miners to new targets, which may affect market sentiment and cryptocurrency prices in the near future.
What impacts could occur from the ancient Bitcoin whale moving a large amount of coins?
The re-emergence of ancient whales could impact price volatility and liquidity in the cryptocurrency market.
Experts suggest that large flows of funds from “dormant” Bitcoin wallets tend to create psychological effects, which could increase price volatility in the short term. Market data examples show that the emergence of huge Bitcoin flows is often associated with strong correction cycles or explosive growth. Investors and professional traders need to closely monitor large money transfer signals to have appropriate strategies.
An example of the difference in Bitcoin value over time from ancient wallets
Year Value 10,000 BTC (USD) Notes 2011 33,999 USD The first bull market cycle of Bitcoin 2024 1,079,663,069 USD Current value based on the exchange rate on July 4, 2024
Frequently Asked Questions
Can long-dormant Bitcoin wallets cause market volatility? Yes, transactions from dormant wallets often contain large amounts of coins, which can heavily impact price volatility and liquidity. How can we identify ancient Bitcoin wallets that are becoming active again? Through blockchain monitoring tools like Whale Alert, which provide alerts about unusual transactions from old addresses. Who usually owns long-dormant Bitcoin addresses? Mostly miners or individual investors from the early days, holding large amounts of coins but not trading for a long time. How does the activation of ancient wallets affect Bitcoin prices? It can create selling pressure or bullish signals depending on the trading intent, thus causing sudden price volatility. How much has Bitcoin's value increased over time? From 33,999 USD in 2011 to over 1 billion USD currently, reflecting the remarkable development of the market over more than 14 years.
Source: https://tintucbitcoin.com/ca-voi-bitcoin-thuc-day-sau-14-nam/
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