The price of Bitcoin is everything but stable these days. And while there are many analyses and news as to why the “people’s currency” is jumping up and down with huge price swings, there may be a simpler economic explanation.
According to some press, the reason why the price has been recently moving are the so called “Bitcoin Whales”, or investors who have amassed huge amounts of Bitcoin and are essentially market movers.
According to Ethereum World News, a potential Bitcoin whale has made two noticeable transactions that have made some people believe that the investor is preparing for dumping a large amount of the cryptocurrency.
The first was was reportedly worth around $192 million, which did not shake the market, as it was believed the move belonged to Bitfinex.
The second sale is of larger concern to investors, it seems. The sale was worth $193 million and is believed to belong to a “whale” that still has around 168,789 BTC.
The wallet of this investor is believed to be worth billions and Ethereum World News reported its address: 3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r.
The Bitcoin community is quite vigilant about such moves and any “whale” out there that is selling such an amount is watched closely. For now, it is not known whether the investor is preparing for a large sale, or just moving co-signers from a larger group of owners.