Whales Are Into Discounted Bitcoin As It Dips Below $40k

Bitcoin dipped below $40k, and crypto whales saw it as an opportunity to add more bitcoins to their bags. Meanwhile, 54% of the population is not informed about Bitcoin in El Salvador.

The market-leading cryptocurrency, Bitcoin, has dipped below $40k for a short period in the early morning. A few days earlier, the support line on $44k has been broken by the huge sale volume, and it was the bearish signal for BTC. According to analysts, Bitcoin found a support area at $40.8k and if it stays above this level then it will validate itself as a support area. Besides that, if it was to pass this level, there is a strong support zone of around $38k.

At the time of writing, the price of the Bitcoin was $42,300, and the market capitalization was $796 billion.

Crypto whales saw this opportunity as the perfect time for adding BTC to their bags. The 3rd largest cryptocurrency whale has added 321 bitcoins to his or her wallet. According to BitInfoCharts, the whale bought 13.5 million dollar worth of Bitcoin during the dip. Since the Bitcoin blockchain is pseudonymous, it is hard to know who owns this wallet unless they publicly claim it.

The owner of “1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ” currently owns 111,794.59 BTC which is worth 4,732,806,885.7 USD. The profit from the price change is 2,601,709,986.72 USD. According to BitInfoCharts, bitcoin in the wallet constitutes 0.59% of the total supply.

54% of Salvadorans Are Unaware of Bitcoin

In the country where Bitcoin is recognized as a legal tender, the population does not have an understanding of Bitcoin and other cryptocurrencies well. The survey held by São Paulo-based agency Sherlock Communications has exposed some surprising results in El Salvador. When they were asked to choose which crypto they know best, 54% of respondents marked “none of the above” options.

In the survey, there were Bitcoin, Ethereum, Litecoin, Dogecoin, EOS, and none of the above options. 40% of respondents chose Bitcoin, 9% Ethereum, 8% Litecoin, 5% Dogecoin, and 1% EOS.

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Disclaimer: All information provided in the content is for informational purposes only and should not perceive as investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.