As a seasoned crypto investor with a knack for following whale activities and a penchant for learning from their mistakes (and occasionally, replicating them), I find myself both intrigued and cautious about this recent movement by the infamous whale. Having witnessed the rollercoaster ride that is the crypto market, I can’t help but feel a sense of deja vu with this whale’s pattern of buying high and selling low – a strategy that has left many investors, including myself, scratching our heads in disbelief.
As per information from Lookonchain, it’s been reported that a major investor, often referred to as a ‘whale’, has taken out approximately 800 Bitcoins, which is equivalent to around $45.37 million, from the Binance exchange.
Speaking from personal experience, I’m the unfortunate investor who learned a hard lesson after some hasty trades resulted in a staggering loss of around $40 million – a costly reminder of the importance of strategic timing in the cryptocurrency market.
The whale in question purchased $19 million worth of Bitcoin on Sept. 3, expanding their $136 million buying spree.
Before that timeframe, the whale (a large-scale Bitcoin investor) offloaded approximately $450 million worth of Bitcoin, from June 27th to July 8th.
These sales took place at price lows despite after the whale purchased Bitcoins at higher prices.
It remains to be seen whether the whale will be able to bounce back with the most recent trades.
Currently, the most significant digital currency is being traded at approximately $58,113, marking a 2.6% increase over the previous day.
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2024-09-12 11:07