Bitcoin wallet dormant for over a decade sees 8,844% gain as market recovers.

From Investing.com

August 20, 2024 10:00 AM:

A long-dormant Bitcoin wallet has returned to activity after 10.7 years, showcasing an 8,844% gain. The previously inactive wallet, holding 19 BTC worth $1,185,944, had last been active in 2013, when its value was $13,259. This highlights Bitcoin’s significant price growth over the past decade.

Bitcoin’s price surged to $61,457, signaling a market recovery. Following a low point on Aug. 5, sentiment has turned bullish for top cryptocurrencies. BTC is up more than 19% since the recent crash, hitting $60,990, with immediate resistance at $61,407 and support at $59,500.

Santiment reports that Bitcoin whales, owning 100-1000 BTC, have accumulated 94,700 more coins in the past six weeks. This indicates major stakeholders are capitalizing on the recent market volatility, boosting their holdings as smaller traders exit the crypto market.

Read more at Investing.com: Dormant Bitcoin Wallet Awakens With 8,844% Gains: Details By U.Today