Bitcoin, which had declined two days in a row, succeeded in rebounding by more than 6% due to the acquisition of whales (large investors). Most of the major altcoins (non-bitcoin cryptocurrencies) are also skyrocketing thanks to the bitcoin rebound.
As of 6 am on the 31st (Korean time), Bitcoin is recording $31,207, a 6.24% jump from 24 hours ago on CoinMarketCap, a global coin market relay site.
On this day, the reason that bitcoin ended its downtrend and soared is interpreted by the news that the bitcoin whale bought 30,000 coins.
According to CoinDesk, a cryptocurrency specialist, it is known that the Bitcoin Whale bought 30,000 coins every time Bitcoin fell over the past week.
Bitcoin fell sharply over the weekend as investors cleared their positions ahead of the Memorial Day holiday. However, it seems that the bitcoin whales were bought, and they ended the sharp decline and rebounded sharply.
As bitcoin rebounded rapidly, other cryptocurrencies (virtual currencies) are also skyrocketing. Cardano (Ada), the fourth place in the market cap, is recording $1.63 in the coin market cap at the same time, up 20.26% from 24 hours ago.
Not only Cardano, but Ethereum, the second-largest market cap, is also recording $2438, up 9.61% from 24 hours ago.
At the same time, on Upbit, a Korean trading site, bitcoin is trading at 43.5 million won, up 1.90% from 24 hours ago. In addition, Ethereum is soaring 4.40%, Ada (Cardano) 12.68%, and Ripple 8.78%, respectively.
