Crypto trading requires timing, holding cryptocurrencies, and using trading strategies. However, one key factor can either make or break a trade: patience. This is often referred to as HODL, or holding cryptocurrencies for a designated time or until the price matches investors’ expectations. A perfect example of this is a cryptocurrency whale who held onto a few bucks worth of Bitcoin from the early days, and it’s now worth $180 million as the Bitcoin price reaches new all-time highs.
A popular analytics platform, Spot On Chain, revealed that a Satoshi-era wallet containing 2,000 BTC has resurfaced after 14 years of dormancy. The whale mined these BTC when Bitcoin’s price was almost nonexistent, but the mining block reward was 50 BTC, compared to 3.125 today, which shows just how long the whale has held these tokens.
The Bitcoin whale came to attention when it began depositing all these cryptocurrencies on popular exchanges like Coinbase, Bitstamp, and BitFlyer. Spot On Chain data shows that the whale has deposited all Bitcoin holdings to three exchanges, with 1,038.87 BTC ($92.93 million) going to Coinbase, 591.46 BTC ($52 million) going to BitFlyer, and 369.66 BTC ($33.04 million) going to Bitstamp.
In addition to this whale, there are many others that are active. One such whale dumped 850,000 WIF tokens, booking $7.5 million in profits. Bitcoin has been highly bullish since November 6, 2024, and has created multiple new highs, bringing heavy profits for its holders. With a recent all-time high of $93,434.36 just three days ago, the Bitcoin price consolidated for a while before indicating another upcoming rally.
Due to its high demand and users’ greedy sentiments, many analysts have claimed that Bitcoin’s price will hit $100,000 before November ends. It is currently trading at $91,246.67 after a 3.4% surge in the last 24 hours. As a result of this ongoing rally, dormant crypto whales or long-term investors are taking advantage of their BTC holdings, inviting more attention to the crypto market.
