Over the past week, Bitcoin also recorded an 8.6% increase, underscoring the cryptocurrency’s renewed strength and potential for a major price recovery. Many analysts are viewing the cryptocurrency’s steady price increase as a bullish signal, potentially indicating a substantial price reversal from bearish trends. Popular crypto analyst, Ali Martinez noted in an X post that the Bitcoin bull-bear market indicator has oscillated between bearish and bullish since early August.
Blockchain tracker and analytics system, Whale Alert, disclosed on X (formerly Twitter) that the address had contained 19 BTC, worth about $13,259 in 2013. The Bitcoin wallet which has been inactive for years, most likely due to strategic HODLing, now boasts impressive gains of about 8,844%, fueled by the cryptocurrency’s consistent yet dramatic price increase since 2013.
This unexpected yet substantial transaction comes as Bitcoin’s price surges past $64,000. Related Reading: Floki Has More Room To Climb,’ Targets 96% Rally – Analyst Decade Old Bitcoin Wallet Springs Back To Life An old Bitcoin wallet established 10.7 years ago has executed a large-scale BTC transaction on August 19.
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