Bitcoin (BTC) Whales Move Funds. Analyst Explains Why Bull Run May Start in Three Weeks

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Mon, 06/22/2020 - 14:19
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Vladislav Sopov
Cryptocurrency analyst Ki Young Ju unveils one factor that could influence the Bitcoin (BTC) price in the upcoming weeks. It is related to whale behavior
Bitcoin (BTC) Whales Move Funds. Analyst Explains Why Bull Run May Start in Three Weeks
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Blockchain analyst Ki Young Ju has studied the behavior of Bitcoin (BTC) whales amidst the ongoing outflow of Bitcoin (BTC) from exchanges. It looks as though his results may give hope to members of the bullish camp.

Whale accumulation detected

Mr. Ki Young Ju researched one of the most aggressive trends of the past weeks in crypto. He witnessed the huge amount of Bitcoin (BTC) outflow from exchange storages.

Analyst reveals the correlation between money movements and Bitcoin price
Image via Twitter

He highlighted that, typically, when bulls are moving Bitcoin (BTC) out of exchanges it means a reliable 'buy' signal for all investors.

It wouldn't take more than four months for bulls to initiate a new rally since another cycle of withdrawals has reached its maximum level. Studying the seven-day moving average of the Bitcoin (BTC) withdrawal amount from 31 exchanges, he figured out that a new bullish trend may be in effect by mid-July, 2020.

However, the mid-March yearly high for this indicator may be unique. It looks like it could be explained by the overall market panic following Black Thursday.

Last accumulation for Bitcoin (BTC)?

Also, the analyst outlined that we should brace ourselves for some ugly red candles or, at least, for a boring 'flat' before the bullish rally.

The bearish market is not as strong as expected, so I think the price will rise again after short-term bear or sideways by the mid of July.

Other experts also announced that Bitcoin (BTC) may be experiencing the final days of its accumulation. For instance, prominent analyst Charles Edwards foresees that a 'Hash Ribbon Buy' sign may occur soon.

Furthermore, he emphasized that it may be the last accumulation phase before a long rally.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)