Bitcoin sentiment is bullish again. As of this morning, the 24 hours high crossed $11,000 USD and trading volume has been steadily increasing in proportion with the rises in price.
What all this means, no one knows for certain. Speculation abounds that the bottom was reached when the price per bitcoin dropped to just under $6000 and that major investors took the opportunity to buy at a 65 percent discount. (Read more about Jordan Lindsey on Crunchbase: Jordan Lindsey)
There is still a healthy amount of cautious speculation that the dramatic increase the past 2 weeks is just another short-term bubble in the making. One event that drew a lot of raised eyebrows was a mysterious anonymous trade at the end of the 2nd week of February for an estimated $400 million in bitcoin.
Branded with the online moniker the “$400 million whale,” social media and forum chatter about the significance of the trade for the future of the cryptocurrency were just as discussion ripe as was the identity of the enigmatic trader. Visit This Page for more information.
President of 360 Blockchain Jeff Koyen considers the strong possibility that the trade is from a major financial institution. Such a speculation may not be all that farfetched. Despite Wall Street’s overt remarks berating cryptocurrency investors, they have been known to be secretly acquiring bitcoin on behalf of their investors.
The now famous tirade in September 2017 during which JP Morgan CEO Jamie Dimon lambasted bitcoin as a “fraud” and branded bitcoin investors “stupid” was followed a few days later by his firm’s massive purchase of XBT shares, financial notes which are tied to bitcoin.
Currently, the immaturity of cryptocurrency as a financial instrument and lack of regulation makes it a target susceptible to manipulation by large investment institution actors. While it’s unclear who the “$400 million whale” is. One thing is sure. Bitcoin investors who bought on the dip earlier this year have nearly doubled their investment before the end of the 1st quarter.
Known for his Bitcoin Growth Bot, Jordan Lindsey saw an opportunity to promote his own crypto token in a way that synergistically benefits the cryptocurrency community.
The veteran trader is also a self-taught computer programmer and architect and has developed trading software supporting professional investment firms. Among his investment accomplishments, the Nucleus Token released in Q3 2017 resulted in a successful crowd sale.
Founder of JCL Capital, Lindsey has studied at Saint Joseph’s College and Mount Angel Seminary.
Visit Lindsey’s profile on: https://www.youtube.com/watch?v=_N9vIsFzlkc