Bitcoin accumulators may be buying drops, while most of the community tries to predict the bottom


Bitcoin, the speculative asset that caught the attention of all, fell (April 19) by approximately 85% since the all-time high in December 2017. However, it is turning its head, since Bitcoin worth $ 140 millions were transferred to portfolios in less than minutes.

In less than 18 hours [at press time], approximately 110,030 BTCs of separate wallet addresses were moved to different wallets that were spotted by a Twitter user, Whale Alert. Total BTC was approximately $ 578 million.

In addition, another Twitter user, @_crypto_maniac_, tweeted:

In addition, Bitcoin has shown signs of discharge in a longer period of time. A BARR pattern was being formed and, if completed, could mean a possible bull run for Bitcoin. In addition, the Bitcoin graph over a four hour period was forming an upward triangle pattern, which also indicates a high pattern.

In addition, the recently released CFTC report indicated that institutional money was long at Bitcoin when Bitcoin rose on April 2, 2019.

In a weekly time period, Bitcoin is very close to forming a "Golden Cross", which usually indicates the beginning of a bull run. However, there was a fraud in July 2014, before it actually occurred in July 2015, which boosted Bitcoin to record highs.

Combining these results, Bitcoin definitely seems optimistic over the longest period of time, this may be one reason why Bitcoin enthusiasts are accumulating Bitcoin even during the falls.

A Twitter user @ cotoole2018 commented:

"No wonder it took a million minutes for me to move about $ 100 worth of $ BTC: P"

Another Twitter user, @_Crypto_Maniac_ commented:

"Well, they are moving them into portfolios, I would say they are preparing for the uptrend of the BTC, but that's just my thinking"

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