U.Today – According to data shared by blockchain detective Whale Alert, which monitors enormous cryptocurrency transactions and shares details on X, it has detected the awakening of an old holder.
This wallet has been inactive since 2014. Over the past few weeks, several other dormant Bitcoin wallets have come back to life after long hibernation. This portfolio has shown huge four-digit gains.
Bitcoin whale returns with a gain of 7240%.
This Bitcoin wallet, which was last used over 10 years ago, contains 99 BTC. The difference between the initial value of these coins in 2014 and the current value is incredible – from $83,068 to a whopping $6,097,440. This covers approximately 7240%.
This week, this is the fourth Bitcoin wallet to come back from dormancy. On Tuesday, the whale reactivated its wallet, which had 21 BTC since 2013. This amount of BTC is currently worth $1,307,996.
On October 1, the aforementioned data source detected two wallets containing 41 BTC worth $2,611,481 and 77 BTC worth $4,902,160.
These old whales suddenly brought their elderly Bitcoin holdings to market with the beginning of October – traders and investors call this month “Uptober” because Bitcoin rallies have historically started in this month for five different years. Sometimes these increases occurred in years when Bitcoin experienced a halving, resulting in miners’ rewards halving.
The “current” start causes Bitcoin to crash
However, “Uptober” did not start as many expected. Due to the negative development of the geopolitical situation in the Middle East, the price of Bitcoin began to fall on Sunday. It has lost 8.46% since then and 2.51% in the last 24 hours. On Sunday, BTC fell from $66,000, reaching $60,325 today.
As the situation continues to develop, investors are selling Bitcoin and other risky assets to buy gold. Bitcoinera and JAN3 CEO Samson Mow has criticized those doing this, jabbing at them, saying that gold cannot be easily transported in complex times.
Mow said he remains bullish despite the situation. “Still Bullieve,” he wrote on Twitter. Mow believes that in the near future, in fact as early as next year, BTC will likely skyrocket and reach $1 million per coin.
