@Paius_17 26 May 2020 more from that month

Cryptocurrency Market Update

**Bitcoin whales busy accumulating as BTC/USD eyes $20,000** https://www.fxstreet.com/cryptocurrencies/news/cryptocurrency-market-update-bitcoin-whales-busy-accumulating-as-btc-usd-eyes-20-000-202005260940 Bitcoin wallets holding more than 100 BTC surge following the “Black Thursday” on March 12. Increase in whale accumulation often points towards increasing positive sentiments for Bitcoin and a possible rally. Bitcoin mentions on Twitter take up 68% of all cryptocurrency mention on the social media platform The recent dip in Bitcoin price from highs above **$9,500** to lower levels around **$8,600** have triggered an accumulation spree among whales. The accumulation was noticed by Santiment, a crypto **analysis** portal. Data by Santiment revealed a surge in Bitcoin wallets holding over **100 BTC**. Precisely, the large holders added over **12,000** BTC to their holdings; an equivalent of **$106 million** (using the prevailing market price). Bitcoin whales are an important factor in the cryptocurrency market. An increase in the amount of BTC in their holdings often points to a possible growth in price. The crash to levels around **$3,800 on March 12** triggered the whales buying spree which has witnessed Bitcoin hitting zones above **$10,000** pre-halving. As they continue to increase their holdings, Bitcoin could also gain momentum from the current price level at **$8,860** and spike above **$10,000.** This coupled with the anticipated gradual impact of the halving that took place in May could pull Bitcoin to levels above the all-time highs **($20,000)**. Another significant indicator for a possible rally is the increasing Bitcoin (BTC) mentions on Twitter. The latest data used to track the **cryptocurrency** mentions on Twitter indicate that Bitcoin mentions are almost proportional to the market cap. Bitcoin tweets hit levels above **26,000** while the tweets mentioning several altcoins including Ethereum (ETH), Litecoin (LTCO), Tezos (XTZ), EOS (EOS) and Chainlink (LINK) totaled approximately 13,000. Bitcoin took up at least **68%** of the total mentions which is just as high as its market dominance of **65.7%.**