- Mt Gox moved 12000 BTC worth over $1 billion to an unknown wallet.
- Traders see this as a highly bullish move and are motivated to hold their BTC.
- An explosive pump is expected for Bitcoin and altcoins soon.
The crypto market sentiment is still in the realm of ‘Fear’ with a score of 30 according to CoinMarketCap’s Crypto Fear & Greed Index. Despite a heavy correction, the price of Bitcoin (BTC) has just pumped back over the $90,000 price range. Amidst this recovery, Mt Gox moved 12000 BTC worth $1 billion to an unknown wallet.
Mt Gox Moved 1200 BTC Worth Over $1 Billion
According to many, such a move can only mean one thing, that the entity has moved a significant amount of its Bitcoin holdings off exchange to a safe, custodial, and trusted location. Moves like this are the opposite of moving one’s crypto to an exchange wallet where they will likely sell.
Explosive Crypto Gains on the Horizon
However, this move of moving assets to an unknown wallet would mean the moment to hold aggressively has arrived. This hints that a major parabolic move is on its way for Bitcoin, and in extension, the greater crypto market including altcoins as well. Indeed, this is a highly bullish indicator for the crypto market and reflects the predictions of many seasoned analysts who expect bullish pumps for Bitcoin and altcoins as well.
For instance, the post above highlights this sentiment exactly. Doctor Profit, known for his many silver-tongued accurate predictions, says that Bitcoin is playing with the minds of retail and advises traders not to fall into a panic-sell trap, but rather, like him, hold assets and relax as the bull market is far from over.
