Are Bitcoin whales accumulating BTC again?

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Discover the activity of the Bitcoin whales during this weekend, are they accumulating BTC right now? Find out in this article.

With all the boom in Bitcoin prices, we decided to review the activity of Bitcoin whales. To do so, we took the Whale Alert reports over the weekend as a reference. Specifically, we’ve been monitoring their activity from November 20-24. Are Bitcoin Up whales accumulating BTC again? Let’s see.

First of all, we have to point out that during this period of time there have been 46 operations with Bitcoin. The total mobilized was 67,508 BTC, and 49.14% of the total was accumulated. This translates into 33,176 BTC. The day with the most accumulation was November 20th, as 11,949 BTC were mobilized from exchanges to unknown wallets.

Meanwhile, 18,804 BTCs were moved from unknown wallets to exchanges, which implies a possible sale during this time. However, it still does not exceed the accumulated amount. Here it is worth noting that whales usually don’t have much movement on weekends, but in this one they stayed.
Summary chart of Bitcoin whale activity, where it is evident that they have been accumulating during these days. Summary chart of Bitcoin whale activity, where it is evident that they have been accumulating during these days.

Bitcoin Whale Activity Flow Chart

Bitcoin whales have maintained a more or less constant activity. However, what can be noticed is that it has been on the rise, reaching 30,137 BTC on November 24th. The peculiarity of this day is that there were two operations between unknown wallets unlike the previous days.
Bitcoin whale activity flow from November 20 to 24, 2020.Bitcoin whale activity flow from November 20 to 24, 2020.

Bitcoin at a step from the historical maximum, is a correction coming?

What’s happening with the price of BTC?

As of this writing, the price of Bitcoin is around USD 19,169, which is a 5.01% increase from yesterday. In that sense, it’s understandable to see that Bitcoin whales are accumulating BTC.

The whales that sell BTC at the moment are those that have been waiting for this bullish rally for quite some time. With this event, finally Bitcoin is close to witnessing the reach of its historical maximum, and maybe breaking it.

No wonder we keep seeing Bitcoin whales active, and taking liquidity out of the market, in order to produce a rise in the price of BTC.

Do you think the Bitcoin whales will continue this build-up or will they simply introduce their currencies into exchanges? Let us know in the comment box.

The German Central Bank is not in a hurry to launch the national digital currency yet

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The Bundesbank decided not to rush the launch of the national digital currency (CBDC). Instead of a token, the German Central Bank will soon launch a block-platform for data exchange.

The project is being implemented in partnership with Ocean Protocol, a Singapore-based non-profit foundation.

The Bundesbank’s press centre said the regulator chose this team because it has no competitors in the development of blockchain services.

It should be reminded that last autumn it became known that the German Central Bank was ready to release its digital currency.

The authorities stated that they would not allow the appearance on the market of German stelecoins produced by private companies and banks. Alternatively, the Central Bank is ready to launch its token and it will be the only payment instrument in the country.

However, so far no cryptovite has been issued. On the other hand, the regulator does not refuse to use block-chain technologies. The platform, which will be created in partnership with the foundation, will allow all participants in the German financial market to exchange data without fear that they will be stolen by third parties.

According to the supporters of this project, the launch of a blockage system will create conditions for increasing productivity in the financial sector.

At the same time, the German authorities have not completely abandoned the idea of implementing the CBDC. In mid-October this year, the Central Bank confirmed that it will return to the token development programme if necessary.

Voici ce que la récente baisse du hashrate de Bitcoin peut impliquer pour les mineurs

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Bitcoin a vu son taux de hachage baisser de plus de 43,47 % en l’espace de 3 jours, en raison de la fermeture des exploitations minières chinoises pour la saison sèche. La raison en est qu’elles ne peuvent pas produire suffisamment d’hydroélectricité sans la pluie, ce qui s’accompagne d’une hausse des coûts de l’électricité.

On estime que 10 % des opérations minières chinoises ont lieu dans la province du Sichuan. Le 25 octobre, de nombreux mineurs chinois de bitcoin ont vu leur prix de l’électricité augmenter considérablement, ce qui semble être la principale cause de la baisse actuelle du taux de haschisch.

Alors que les exploitations minières chinoises se déplacent vers d’autres endroits du pays où les coûts d’exploitation sont moins élevés, ce ralentissement „temporaire“ qui a provoqué une baisse de près de 45 % du taux de haschisch souligne la domination de la Chine dans l’extraction de bitcoin.

En raison de ce ralentissement de l’exploitation minière, les transactions de Bitcoin Trader ont pris plus de temps à traiter ces derniers jours.

Actuellement, le taux de haschisch est passé de 90 EH/S il y a deux jours à 103 EH/S et devrait augmenter après l’ajustement de difficulté prévu dans quatre jours.

Certains ont spéculé qu’au-delà du récit général de l’arrêt des opérations en raison de la fin de la saison des pluies, il y a deux raisons possibles à une telle baisse.

L’une d’entre elles est que les mineurs peuvent intentionnellement suspendre leur puissance et leurs opérations, anticipant un modèle plus économique et moins difficile. Le prochain ajustement de la difficulté est prévu dans quatre jours et la difficulté devrait diminuer de 10,56%.

Si les mineurs peuvent tirer profit de cette baisse de difficulté et augmenter leur efficacité opérationnelle à cet égard, il existe une autre école de pensée quant aux raisons du ralentissement de l’activité minière.

Jameson Lopp a déclaré sur Twitter : „Je ne souscris pas aux théories selon lesquelles le taux de hachage affecte le prix. C’est l’inverse“.

Le prix actuel du bitcoin pourrait faire en sorte que les mineurs chinois vendent à ce niveau leur bitcoin existant et non pas l’exploitation minière, étant donné le prix actuel du bitcoin, qui se négocie au-dessus de 13 144 dollars au moment de la rédaction du présent rapport.