When a crypt currency increases its price considerably, one of the most common trends is to take advantage of it to obtain the profits from an initial investment. This seemed to be the case for some Bitcoin Cash (BCH) whales. Find out the details.
Bitcoin Cash is over $300, where is it headed?
Bitcoin Cash Whales Decline After Cryptomoney Price Increase
Recently, BCH increased its price by almost 39%. After this, some people noticed that the number of Bitcoin Cash whales decreased since August 1. An example of this was Ali Martinez, a Twitter user interested in crypto currency.
To be a Bitcoin Cash whale, you must be an investor who has the equivalent of $3 million in this crypt currency. That is, you have between 10,000 and 100,000 BCH.
It is estimated that 10 whales ceased to be whales after they sold their BCH when it exceeded US$ 311. Martínez added that, according to an analysis of the data provided by Santiment, the number of investors who have between 10,000 and 100,000 Bitcoin Cash (BCH) decreased.
La Plata yields the same as Bitcoin in 2020
BCH price and market capitalization
This reminds us that BCH is currently the fifth largest cryptographic asset by market capitalization with almost US$ 5.6 billion, with Bitcoin SV (BSV) behind, after Chainlink, with a capitalization of US$ 4.1 million. All this according to CoinMarketCap.
At the time of writing, Bitcoin Investor is trading at US$ 302.09, having increased by 0.83% in the last 24 hours. However, if we look at the price chart for the last seven days, we can see that the peak day for this crypt currency was last August 7. At that time it reached US$ 323.72.