Sometimes it doesn’t hurt to take peek into profitable whales’ portfolios
Cryptocurrency whales often conduct dubious deals Which sometimes seem irrational but later end up in profit. Large holders can sometimes be profitable, but being one requires a large risk tolerance. One whale remained in profit despite losing over 70% of BTC’s value.
Previously, U.Today has covered how a BTC whale transferred a total of 47,848 BTC in numerous transactions to a centralized cryptocurrency exchange. This was part of his/her smart accumulation strategy that allowed him/her to remain afloat despite the depression and panic on the digital assets market.
According to Whale’s trading account, this whale only buys bitcoin when it trades around absolute lows, which is why the average cost of its trading portfolio will always be much lower than the current spot price.
His most recent transactions show that the whale has been actively moving funds away from centralized exchanges after active accumulation. Most likely, the whale believes that Bitcoin is moving close to the bottom, which is why he made the decision to withdraw funds from the exchange.
Several factors suggest that bitcoin is headed for a volatility spike, as the first cryptocurrency to show anemic performance over the past few weeks – which is not a typical feature for it.
As we have mentioned in one of our market reviews, Bitcoin is getting squeezed between the 50-day moving average and the lower border of the consolidation channel. The most likely scenario in setups like this is a volatility spike and a strong move. Unfortunately, Bitcoin is not giving any directional signs and may move in either direction.
