Bitcoin investment: 2 reasons to buy BTC before the price exceeds $30,000

It is important to remember that Bitcoin is a risky asset and the gains on your investment are not guaranteed.

Whales are buying up Bitcoin

As BTC trades below $23,000 and the market stabilizes, a new Bitcoin whale has appeared in the community. She bought $3 billion worth of Bitcoins.

The crypto community has not yet been able to identify this giant hand which made its first purchases on July 15, 2022.

🔥132,877 #Bitcoin accumulated in 3 days by a single 🐳wallet #whale Source: Bitinfocharts

In fact, it only took this whale three days to complete all of its purchases: 15,499 BTC, or $345.9 million, on July 19. Subsequent purchases were larger; on July 20, the whale made another purchase of 45,499 BTC. At the time of acquisition, it was worth $1.06 billion.

Finally, according to data collected by BitInfoCharts on July 21, the whale bolstered its wallet by acquiring 71,879 BTC worth $1.64 billion.

This reflects the enthusiasm of large investors who intend to take advantage of Bitcoin’s current low prices before its price exceeds $30,000.

Bitcoin Holds Above $20,000

As we have seen, $20,000 is an important psychological threshold for Bitcoin. Despite Ongoing Concerns About the State of the Global Economy, Bitcoin Price Holds above $20,000hitting highs of over $24,000 over the weekend.

Thursday’s US gross domestic product (GDP) data showed the quarterly growth rate falling 0.9%, surprising those anticipating a 0.5% gain.

These figures were followed by a rebound in the cryptocurrency market. This shows that investors’ concerns are gradually dissipating, giving way to optimism.

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