Bitcoin may see significant gains in October, with whales accumulating more BTC

From Investing.com

September 3, 2024 2:00:23 pm:

Cryptocurrency traders may see a bullish October, known as “Uptober,” based on data from @lookonchain. September has historically seen Bitcoin decline, with October seeing significant gains up to 53%. Last year, Bitcoin rose by 27.92% in October, from $26,970 to $34,499, showing a 40.99% increase in 2021 to $61,837.

Bitcoin whales continue to accumulate, with a large whale adding 322.37 BTC worth $19 million to reach a total holding of 8,881 BTC valued at $523 million. Another trader withdrew 1,100 BTC worth $64.2 million from Binance, netting a $62 million profit.

Bitcoin maximalist Samson Mow believes Bitcoin is poised for growth despite current stagnation, emphasizing potential for significant upside movements in such periods. Whales continue to accumulate BTC, with one acquiring a large stash valued at over half a billion USD and another withdrawing a significant amount from Binance.

Read more at Investing.com: Bitcoin ‘Uptober’ on Horizon, Report Reveals, Massive BTC Gains Expected By U.Today