Sure and I think the person believes in the future of bitcoin and thus decided to save his Bitcoin in an offline wallet for future .According to data provided by crypto data monitoring firms, CryptoQuant and Whale Alert, 11,800 BTC was moved. It was reported that the transfer was made to a cold wallet from the Coinbase exchange.
Do you think this transaction was made due to an upward expectation for bitcoin?
They person have already invested in the coin already ,but the person might be holding for long term ,it might not necessarily cause another effect in the priceYeah i think this transaction was made due to an upward expectation for bitcoin. I think we could expect some big movements in the near days with this movement too
Yeah . There could have been panic sell if he had sent to an exchange site .but sending to an offline wallet is a good sign of a future rise .They person have already invested in the coin already ,but the person might be holding for long term ,it might not necessarily cause another effect in the price
Yeah with series of hacking going on the online exchange platform ,its best to secure with an offline wallet ,because we dont know the next to be attackedIt is very likely that the whale wish to hold the bitcoin for long time because of the expectation in it increase in value and the cold wallet will make it safer.
Yeah he is already sure that the price wont fall below the level that he wants. That is the reason he sent to an exchange platform too. I thinkYeah . There could have been panic sell if he had sent to an exchange site .but sending to an offline wallet is a good sign of a future rise .
Yeah am sure of that because the person cant just move and put the money there without a plan , unless the person doesn't want to earnIf it was moved to a cold wallet then the chances are that this person is expecting to hold it for a long period of time and as such it will be based on future developments and price hikes that they expect to happen.
Exactly. It is likely that the growth in bitcoin was well received by them, and in order to try and resist the temptation of selling, it is best to put it into a cold wallet where you are not always constantly tempted with trade.Yeah am sure of that because the person cant just move and put the money there without a plan , unless the person doesn't want to earn
This is true the temptation is just too much , its very hard to be online and continue to see your money drop or rise without withdrawingExactly. It is likely that the growth in bitcoin was well received by them, and in order to try and resist the temptation of selling, it is best to put it into a cold wallet where you are not always constantly tempted with trade.
I think he was running away from the possibility of losing the Bitcoin once the platform is hacked by people . So cold storage is where he will have full controlExactly. It is likely that the growth in bitcoin was well received by them, and in order to try and resist the temptation of selling, it is best to put it into a cold wallet where you are not always constantly tempted with trade.
A valuable point. there has been many exchanges that has noted a lot of hacks lately, with even hardware wallets reportedly having hacks as well. It is quite worrying considering in a hardware wallet you are paying considerably for security of your funds.I think he was running away from the possibility of losing the Bitcoin once the platform is hacked by people . So cold storage is where he will have full control
I hardly see hardware wallet get hacked , because those wallet are more secured compared to some online platform where people store bitcoinA valuable point. there has been many exchanges that has noted a lot of hacks lately, with even hardware wallets reportedly having hacks as well. It is quite worrying considering in a hardware wallet you are paying considerably for security of your funds.
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