Dormant wallet addresses are now becoming active again as whales and institutional investors anticipate Bitcoin (BTC) price hitting a new all-time high in the coming months and surpassing $100k ahead of Bitcoin halving next year.<\/p>\n
Dormant whales have moved BTC and other crypto assets worth billions in the last few months amid dovish US Federal Reserve<\/a>, spot bitcoin etf filings by traditional finance giants black rock<\/a>, Fidelity Investments<\/a>, and Invesco; positive crypto fund inflows<\/a>and Ripple’s partial win<\/a> against US SEC.<\/p>\n <\/p>\n Onchain data expert lookonchain<\/a> on July 22 revealed that another BTC whale dormant for 11 years woke up and transferred all 1,037.42 ($37.8 million) to a new address \u201cbc1qtl\u201d.<\/p>\n as per BitInfoCharts<\/a>, the whale received 1,037.42 ($5,107) on April 11, 2012, when the price per bitcoin was just $4.92. The wallet address reached the highest profit of $59 million when BTC hit ATH.<\/p>\n Popular crypto reporter Colin Wu said<\/a>,<\/p>\n <\/p>\n \u201cThese funds may be held by hackers, and their sources of funds can be traced back to 2021 and continued after 2015, during which more than 40,000 BTC were dispersed to hundreds of addresses.\u201d<\/p>\n<\/blockquote>\n Also Read: <\/strong>Is Dogecoin Price Poised for a 20% Downfall? Key Indicators to Watch<\/a><\/p>\n Standard Chartered Bank Predictions<\/a> that Bitcoin may reach $50,000 this year and $120,000 by the end of 2024. The bank’s analysts anticipate increased hoarding of Bitcoin by miners.<\/p>\n <\/p>\n Renowned author and financial educator Robert Kiyosaki<\/strong>known for his book “Rich Dad Poor Dad,” predicts Bitcoin to reach $120,000<\/a> in the near future.<\/p>\n In fact, BitMEX co-founder Arthur Hayes, Ark Invest CEO Cathie Wood, and Stock to Flow model creator PlanB predicted a massive rally in BTC price.<\/p>\n btc price<\/a> jumped 0.5% in the past 24 hours, with the price currently trading at $29,945. The 24-hour low and high are $29,746 and $30,046, respectively. Furthermore, the trading volume has decreased by 31% in the last 24 hours, indicating subdued interest among traders.<\/p>\n However, Bitcoin is holding strongly near the $30k level and several analysts are bullish on an upcoming breakout after the FOMC.<\/p>\n Still a waiting game for #Bitcoin<\/a>,<\/p>\n I’m interested either at $29,000 for longs (sweep of the low) or reclaim $30,200-30,400 and then we’ll probably play it fast towards $31,500. pic.twitter.com\/McuDvJFQvZ<\/a><\/p>\n \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) July 22, 2023<\/a><\/p>\n<\/blockquote>\n\n
Bitcoin Price Surpassing $100k In 2024<\/h2>\n
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