In the wild whales and bulls do not intersect, but in the stock market these two animals are best friends. With the beginning of the current bullrun major players are showing very keen interest to the market. In fact, such activity whale has not been seen for almost a year. Trader under the name CryptoMedication noticed some signs that whales have already earned a huge amount of money on the growth of Bitcoin.
Who benefits bullrun?
According to the enthusiast, a large part of the whales managed to get out of trades before the recent fall of the main cryptocurrency. We will remind, the rise of Bitcoin began April 2, when a coin suddenly rose by 15 percent in just a day. A little later, began a new stage of consolidation, and in may, the asset was able to overcome several important resistance levels.
Gains above $ 5,000 was the trigger to open long positions, so the majority of traders beginning to play on the rise. According to preliminary calculations CryptoMedication, whales have been able to add at least 30 percent of its portfolio against the background bullrun.
At the same time, the trader does not exclude the possibility that Bitcoin could fall back down to $ 5460. However, now the probability of growth up to 9000 dollars is much higher. To test this price level, bitcoin will need to rise by only 13 percent.
By the way, soon may begin the season altcoins on the background bullrun some coins are already starting to update its historical highs. This process supports even some known experts. For example, the chief economist of the Bank of England’s Andrew Haldane does not preclude the complete replacement of Fiat to the crypt.
Tonight, Bitcoin is trading at $ 7952. For the past day, the cryptocurrency rose by 8.28 percent. Be the first to hear about the best trading positions, subscribe to our cryptcat of hontarov.
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