As prices drop, Bitcoin Whale will buy $ 150 million worth of cryptocurrency.

According to The Independent, the anonymous bitcoin whale will be worth more than $ 150 million during the recent bitcoin crash.

Bitcoin the third largest is currently around $ 6 billion in cryptocurrency.

Bitcoin prices fell nearly 30% during the week, but have recovered since the fall.

Bitcoin's value recently fell nearly 30% to below $ 50,000, according to a report released on Wednesday by The Independent.

Large holders (whales have had the opportunity to reap many benefits from cryptocurrencies).

A data report from the blockchain monitoring service BitInfoCharts shows that the third largest maker of Bitcoin has purchased more than $ 150 million in digital currency and more than 3,000 bitcoins in the past few days.

In addition, anonymous Bitcoin whales are also increasing their purchases. Holders with a net worth of around $ 5.9 billion increased profits for an owner who first opened a crypto address in February 2019, when Bitcoin's exchange rate was $ 3,000 , an increase of about $ 3.4. 10 billion.

A Bitcoin whale is a person or entity who holds enough Bitcoin to disrupt or even manipulate the value of a currency. The higher the volatility, the higher the whale.

According to BitInfoCharts, the top 10 BTC wallets control 6% of all bitcoin in circulation, while the top 100 wallets control nearly 15% ($ 128 billion) of total bitcoin.

when the whale jumps

Considering the wealth of whales, large purchases and orders can lead to communication.

Using MicroStrategy as an example, a state-owned company has 105,000 BTC ($ 4.8 billion). The company received a "macro buy" rating and bought nearly 20,000 BTC from thousands of small businesses. According to Saylor, with one purchase, the company "performed 88,617 trades for 74 consecutive hours." If Bitcoin prices drop 1-2% despite deliberate microtransactions, the company plans to buy $ 350-50 million worth of assets within seconds.

A big order can increase the price quickly, but big sales make all the difference. When traders try to convert their BTC securities to cash or other denominations, the lack of capital and important commodities can cause Bitcoin prices to drop.

Bitcoin rose 3% to $ 50,815 during Wednesday's trading session. As part of the crypto industry crash, prices fell 27% on Saturday, falling below $ 42,000. Analysts said the sale was due to a number of concerns, including a recent outbreak of the Omicron coronavirus and the possibility of Fed policy tightening.

Analysts also said the business model is causing a collapse and many traders are using the equipment and borrowing money.