Bitcoin (BTC) Will Reach $25,000, But Another Thing Is Happening First, Mike Alfred Says
Prominent crypto investor Mike Alfred has published a tweet, sharing his optimistic take on the Bitcoin price. He believes that after the current shaking of weak hands, the flagship cryptocurrency is likely to reclaim the $25,000 level. However, currently, BTC is “still shaking out the tourists,” per Alfred. Earlier this month, he opined that the leading crypto would inevitably hit a $150,000 high. However, to do that, BTC first has to surpass the $23,133 price mark and fix above it.
#Bitcoin still shaking out the tourists before it moves up to $25,000. You really love to see it.— Mike Alfred (@mikealfred) February 5, 2023
Bitcoin whales become active again In a recently published tweet, Santiment data aggregating agency mentioned that its team had detected the return of roughly 620,000 small Bitcoin whales to the BTC network. This happened after the FOMO for cryptocurrencies (a crypto acronym standing for “fear of missing out”) again started on Jan. 13. Back on that day, the Bitcoin price recaptured the $20,000 level. The aforementioned wallets hold approximately 0.1 Bitcoin or, even less, each. They had emerged slowly last year, however, now, Santiment says, traders feel optimism, so these wallets have become active again.
🧐 There have been ~620k small #Bitcoin addresses that have popped back up on the network since #FOMO returned on January 13th when price regained $20k. These 0.1 $BTC or less addresses grew slowly in 2022, but 2023 is showing a return of trader optimism. https://t.co/CUAS0nV23x pic.twitter.com/wo8NBDNXs3— Santiment (@santimentfeed) February 6, 2023
This wallet grabs $313.1 million in BTC As reported by U.Today over the weekend, an astounding 13,369 Bitcoin were bought in a single transaction by a crypto whale, who paid a whopping $313.1 million for that BTC lump. This was the biggest single transfer over the previous four weeks, according to the data published by Santiment. The BTC was transferred to a brand new wallet, so the market may have seen a birth of a new Bitcoin whale.
Bitcoin market stance Since Feb. 1, Bitcoin has been declining, losing 5.72% overall. As the month started, BTC surged to the $24,197 zone. However, the jobs report released after that made the price begin to decline. The U.S. Bureau of Labor Statistics reported that, in January, 517,000 new jobs were created, which was more than twice what analysts had predicted. Currently, the major crypto is changing hands at the $22,787 level on the Bitstamp exchange.