Analysts have predicted what the future holds for bitcoin as Whale Alert bot tracks a $50,000,000 BTC transaction made by a crypto whale to a Binance wallet.
The crypto community has been thrown into a wild frenzy after the transaction tracking bot, Whale Alert, announced a huge crypto whale transaction on Twitter.
According to the bot, the originating wallet transferred about 4,500 Bitcoins in one transaction and was charged a meager fee of $22. Furthermore, the whale alert bot noted that the wallet has been active since it first appeared on February 6 after it made a transaction. The anonymous holder of the wallet has gone on to make a lot of transactions over the months, which always involved hefty sums.
Crypto whale has made 160 high-value transactions in total
Taking this transaction into consideration, the wallet has managed to make a total of 160 high-value digital assets transactions. The bot further announced that the crypto whale transaction involved a Binance originated wallet as it was the recipient of the large sum of money.
With the Whale Alert bot always working tirelessly to recognize wallets belonging to top firms, it has been unable to identify the trading platform that the sending wallet is coming from. On the back of this high-value transaction, analysts and experts have predicted that Bitcoin price might undergo a short bearish trend in the coming days.
Experts predict Bitcoin’s decline in the coming days
Trader and Bitcoin enthusiast, Michaël Van de Poppe took to Twitter to announce that Bitcoin might make a little decline in the coming days to touch the $10,800 region soon. This new Bitcoin predicted regressive trend is coming after another trader announced that he sees Bitcoin moving in the $10,500 region if the resistance figure of $11,000 is breached.
Renowned crypto analyst, Josh Rager has also lent his voice in support of the impending Bitcoin decline as he says the digital asset could go as low as $10,000 in the next few days.
With the crypto whale transferring such a vast amount of money, one can assume many things, including cashing out of the digital assets.