Bitcoin Today: Big whales are moving

5. Juli 2018

Price
BTCUSD found a support yesterday in the 6300-6600 zone at 6400.0 level. Since the start of July price stays in Bullish tendency, though the tendency gradually flattening. While price is in the 6000 – 7000 zone it is substantially moved by the large buy-ins, not by constant growth of demand, such growth can’t last long and if big buyers will be able to push price above the 7000.0 level, there is a hope that smaller buyers will come back on the market and bring back bullish demand. For now, 6300.0 level should stay strong to maintain the bullish tendency. From the upside, we are waiting for the breakthrough of the 6700.0 and further testing of the 7000.0 resistance.

Today forecast
Trading in the 6300.0 – 7000.0 zone.

Latest news

• 6th richest Bitcoin [BTC] address activated on 1st July 2018
  According to Bitinfocharts, the Bitcoin wallet address which was activated on 1st July 2018 is ranked among the top 10 richest Bitcoin [BTC] addresses. The wallet address is on the sixth position with a total of 8,5947.12 BTC, valued at $566 million, at press time.
  The addresses holding the most number of Bitcoin tokens belong to exchange platforms, including Bitfinex, Binance, Bittrex, Bitstamp, and Huobi.
  The account received a total 85,947.12 BTC from 4 different addresses.
  The largest transaction made to the address was 85,947.127 BTC worth $568 million [approx.]
  The unknown wallet received its latest BTC on 3rd July 2018 at 4:50:53 UTC.
  The huge amount of BTC was received from an address which was created on 25th March 2018 and the last notable transaction was made on 1st July 2018. A total of 152 transactions were made by the address and the activity shows that the number of deposits is more than the number of withdrawals.
  The address had an approximate of 93,947 BTC out of which 85,947.127 BTC was transferred on 1st July 2018, making it the biggest transfer made by the address till date. Prior to this, four transactions of 2000 BTC each, were made.
  The transfer of the BTC did not have any impact on the market. The possibilities according to many in the community are:
  - An individual transferred the Bitcoin from one account to another.
  - The BTCs were purchased from an OTC exchange.
  - The account became active days after a self-proclaimed Satoshi Nakamoto announced the release of two books. The books will hold the details of Bitcoin and its background, and Satoshi Nakamoto.
  - The announcement was made on nakomotofamilyfoundation.org and stated that the book will be released in two parts which will be called ‘Honne and Tatamae’. When translated from Japanese to English the term stands for a ‘contrast between a person’s true feeling and desire and the behavior and opinions one displays in public’. With Honne meaning ‘True sound’ and Tatamae meaning ‘built in front or facade’.
  
• Indian Crypto Exchanges Drop Fiat Support as Banks Close Their Accounts per RBI Ban
  Cryptocurrency exchanges in India have one by one announced the shut down of their fiat deposits and withdrawals as banks start closing their accounts per RBI’s crypto banking ban. Meanwhile, they are trying to educate the central bank in hopes of easing the ban.
  The Supreme Court of India heard a petition against the crypto banking ban by the Reserve Bank of India (RBI) on Tuesday, July 3. However, it did not grant a stay on the ban. Instead, this petition, which was filed by the Internet and Mobile Association of India (IAMAI), will be heard along with four other petitions on July 20.
  RBI issued a circular on April 6 banning all financial institutions under its control from providing services to cryptocurrency exchanges, starting on July 5. Without the stay by the Supreme Court, banks are likely to stop providing their services on July 5 per RBI’s order.