At the end of July 2020 there was a big jump in the price of Bitcoin, followed by a sharp drop at the beginning of September. This could be caused by a large purchase of bitcoin followed by a distribution of the bitcoin and sell off.
The whale in question was just transferring the bitcoin to another wallet. As for the price jump in july, that was also correlated to the rally in precious metals because the fed said they were going to keep interest rates at zero for the foreseeable future
At the end of July 2020 there was a big jump in the price of Bitcoin, followed by a sharp drop at the beginning of September. This could be caused by a large purchase of bitcoin followed by a distribution of the bitcoin and sell off.
I remember reading something about a mystery whale entering the market around that time.
That was i think from the silk road raid. The Feds transfered the money out
But why the jump? Wouldn't that just be a sell off?
The whale in question was just transferring the bitcoin to another wallet. As for the price jump in july, that was also correlated to the rally in precious metals because the fed said they were going to keep interest rates at zero for the foreseeable future