Starting from the year back at 2017 late in December when the price of single bitcoin climbed above from $10,000 USD to $20,000 USD touching new milestones globally. A total market capitalisation of around $344 Mln giving reasons to the community believe and re think about the blockchain technology.
An Unknown buyer aggressively still unknown staring from February this year is buying bitcoins in big numbers. Thus it is believed that this high magnitude of trading is done to increase the demand of bitcoin which would thus lead to market manipulation in the prices of the currency in mere future.
Holding Positions Tight
Bitcoin and its related altcoins in the market have been experiencing a very difficult time starting this year. After a spark in back 2017, a massive gain of around on an average of nearly around a 1000% was seen which declined all of a sudden significantly following the next year in 2018.
As seen before, by the end of year 2017, when the price of bitcoins peaked at incredible heights of around $20,000 USD mark until in February 2018 when the price went falling to around $6,000 USD with reasons unknown. There was a lot of panic selling among the community when the cryptocurrency went falling. The main reason for this panic selling is the news that were spreading out loud that cryptocurrencies are a bubble that are about to burst very soon.
Now, the mystery purchase of bitcoin at this high numbers is creating a buzz again in the minds of the crypto traders.Fear of cryptocurrency ban, strict crypto regulations were firstly responsible for the massive sell-off and purchase earlier in the year.
The trade was a trending topic on the internet with some commentators affirming that it was a sure sign that very soon uneven manipulations would be seen in the market again.
About This Trade
An unknown bitcoin address of an unknown buyer is3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64. As per the website blockchain.info prior to this trades, this account had a previous balance of 55,000 BTC. With new purchases the account currently holds 98,042.48 BTC.
The First purchase of bitcoin took the account to about 63,000 BTC and now at present levels of 98,042.48 BTC. More research is to be done about this anonymous account and the impact it would have on the crypto market in mere future coming days.