Whales Addresses Returning $3.8 Million To BTC – Is This Good Sign?

Whale addresses from different Bitcoin investors have returned approximately $3.8 million to the BTC network. This has happened since the beginning of the war between Russia and Ukraine. Despite this, crypto experts remain optimistic that something exciting is on the way. According to Antoni Trenchev of CNBC, “Bitcoin will be worth more than $100,000 before this year runs out.” However, he expressed “concern” about bitcoin’s short-term prospects, implying that it may fall along with traditional financial markets as the Federal Reserve begins to withdraw its money. On the other hand, he believes that a “crash” in the stock market will cause the Federal Reserve of the United States to “quickly return to easing.” If Trenchev is correct, Bitcoin’s price would have to rise by more than twice as much this year. Trenchev predicted in January 2020 that Bitcoin would be worth more than $50,000 by the end of the year. “Everyone was laughing at me,” he says. Trenchev was incorrect when he predicted 2020. Bitcoin’s highest point that year was just over $29,000. However, cryptocurrency was worth more than $50,000 by February 2021. As major Wall Street firms such as Jump Trading and Jane Street continue to invest in digital assets, crypto enthusiasts claim that the market has matured and that there is hope. Meanwhile, crypto “whales” such as Do Kwon, a co-founder of blockchain company Terra Labs, are stockpiling Bitcoin worth millions of do...