A mystery $1 billion Bitcoin Whale is active - What could it mean to prices?

A mystery bitcoin whale wallet holding nearly $1 billion worth of bitcoin is suddenly active after lying dormant for more than four years, according to a recent post on Reddit. Does this mean the whale is intending to dump a huge amount of BTC in the market?

If you trade crypto you will hear the term “whale” and as the name suggests it is used to describe huge cryptocurrency holders. Bitcoin wallets holding around $1 billion are usually referred to as whales.

With the recent activity many investors are questioning whether a dump is on its way. Some of the transactions are being traced back to a wallet address that has previously been linked to both Silk Road and Mt. Gox. The question is what happens when a crypto whale is active? Who does this $1 billion whale wallet belong to? Should bitcoin investors expect a dump?

Whales are usually blamed for unexplained market phenomenon. As the crypto market has grown over the years and more investors have entered this means, bitcoin gained more liquidity and speculators believe bigger bitcoin whales are the ones who have the ability to shift the waters.

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Source: A Mystery $1 Billion Bitcoin Whale Is Active – What Could It Mean to Prices? – TheStreet