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    Anonymous trader buys $400 million in bitcoin

    https://www.marketwatch.com/story/an...oin-2018-02-16

    Is that why it moved back above $10,000 this week?

    Go big or go home. That’s the motto of one mysterious investor who put his chips on the table, buying close to $400 million of the No.1 digital currency, bitcoin.

    The purchase comes as cryptocurrencies are making a comeback after a dreadful start to 2018. Major digital currencies lost as much as 50% to start the year as growing regulation and security fears crippled the market, seeing traders bail on their positions. However, the tide has turned.

    CFTC: Beware cryptocurrency pump-and-dump schemes

    The price of bitcoin BTCUSD, -0.28% has increased more than 60% since trading under $6,000 on February 6, pushing back above $10,000, helped by signs of growing recognition of digital currencies from officials in Washington.

    “Not sure who that big buyer was but many have bought this dip and have added since the rebound and additional regulatory clarity in the U.S. and Asia,” Alex Sunnarborg, Founding Partner of Tetras Capital said.

    The unknown trader with the bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased the coins between Feb. 9 and Feb. 12, taking his bitcoin balance from 55,000 coins to more than 96,000.
    More at link.

    https://www.investopedia.com/news/bi...buyer-emerges/

    The buyer first bought bitcoin worth $344 million between February 9th and February 12th, when its price traversed the range between $8,500 and $8,900. The buyer doubled down on bitcoin by purchasing 41,000 coins, just before its price hit $10,000.

    The tweet will provide further ammunition to critics of the cryptocurrency. In the past, detractors have noted that despite bitcoin’s claims of being decentralized, its price is susceptible to being manipulated by "bitcoin whales," or investors and traders who hold large stashes of the virtual currency.
    Last edited by Zippyjuan; 02-16-2018 at 04:19 PM.



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