Press ReleasesAboutAdvertiseTHE WEEKLYBitcoin Mega Whale Resurfaces, JPMorgan Expects BTC Price to

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THE WEEKLY

Bitcoin Mega Whale Resurfaces, JPMorgan Expects BTC Price to Drop, Bitcoin Cash Soars 40%, and More — Week in Review

By David Sencil
Sun Mar 10 8:0:50 EST 2024

A significant bitcoin “mega whale” moved 3,000 vintage bitcoins from 2010 as BTC peaked at $69,210. JPMorgan predicted a post-halving drop in bitcoin’s price to $42,000, citing current euphoria levels. Meanwhile, bitcoin cash experienced a 40% surge in anticipation of its halving event and a major 2024 upgrade. Additionally, rumors circulated about a Qatari billionaire’s substantial bitcoin purchase post the Bitcoin Atlantis conference, further igniting speculative interest.

Mega Whale Resurfaces: 1,000 Vintage Bitcoins From 2010 Moved as BTC Peaked at $69,210

On March 1, 2024, an infamous and vast bitcoin mega whale moved 2,000 vintage bitcoins from 2010 and now, four days later, on March 5—the day bitcoin hit its peak value of $69,210 per coin—the same entity transferred another 1,000 bitcoins from 2010.
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JPMorgan Expects Bitcoin Price to Drop to $42K After Halving

JPMorgan has cautioned investors that the price of bitcoin could fall to $42,000 after the halving event in April. The global investment bank’s analysts explained that $42K is the level they “envisage bitcoin prices drifting towards once bitcoin-halving-induced euphoria subsides after April.” The bank also recently stated that the bitcoin halving and the next major Ethereum upgrade are “largely priced in.”
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Bitcoin Cash Soars 40% in 24 Hours as Market Eyes Upcoming Halving and Adaptive Block Size Upgrade

On Saturday, March 2, the valuation of bitcoin cash witnessed a significant increase, climbing over 40% within a 24-hour span to reach a peak of $451 each. This upward trend is attributed to the anticipated halving event, set to happen in 16 days, and the forthcoming 2024 upgrade, which is expected to implement an adaptive block size limit algorithm.
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Bitcoin’s Leap Past $65K Ignites Speculation of Qatari Billionaire’s Big Buy Post-Atlantis Conference

Following bitcoin’s climb beyond the $65,000 mark, social media has been buzzing with discussions about the rumored acquisition of bitcoin by a billionaire from Qatar post the Bitcoin Atlantis conference in Madeira. A sighting of a Qatari jet at the airport subsequent to the Bitcoin Atlantis gathering has caught the public’s attention, with the shared image amassing over 189,000 views.
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Why do you think the “mega whale” moved those bitcoins? Share your thoughts and opinions about this subject in the comments section below.

TAGS IN THIS STORY

Bitcoin, bitcoin cash, Crypto, Cryptocurrency, jpmorgan

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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