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30 May 2024
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From $2 to $61,000: Dormant Bitcoin Wallet Awakens to Massive Profits

An old Bitcoin wallet from 2011 has sprung to life recently, at a time when Bitcoin is trading and trending at bullish levels. The wallet, which had stayed dormant for 14 years now, has moved nearly $30,000,000 worth of BTC funds, sending ripples across the crypto community.

Also Read: Will Precious Metals Rally Outpace Bitcoin? This Economist Thinks So! 

Striking Details: Hodler’s Dream Come True

us dollar usd bitcoin btc cryptocurrency
Source: embca.com

Trading in generic terms often refers to investing in areas where volatility and unpredictability rule. These areas are marked with an element of mystery that makes the allure of this domain quite tempting and dominating. 

Each investor often enters the realm to make heavy profits, but there are times when the realm does not bother to disseminate decent returns, let alone a staggering amount that is capable of turning the tables around. The cryptocurrency realm also treads on the same radar. 

However, in a new striking development, a crypto wallet that has been dormant for 14 years now has suddenly sprung to life, moving Bitcoin funds worth $30,000,000. 

What’s truly appreciating is man’s ability to hold and endure despite Bitcoin’s massive price volatility that the token has encountered all these years. Per Ash Crypto, a notable cryptocurrency analyst, the man must have purchased and “hodled” his BTC proceedings at $2 in 2011. The mysterious entity has moved its funds at a time when Bitcoin is trading at the $61,000 price level, accumulating massive profits in its wake. 

Bitcoin’s Price Path: Will BTC Be Able to Break Above $70K?

After touching an all-time high of $70K, Bitcoin has tumbled down to trade at $61K at press time, sparking waves of curiosity to spread amuck. The token is currently trading at $60.950, supposedly consolidating before hitting robust price levels.

Per CoinCodex, Bitcoin may touch a new price high of $80k by mid-June, given that the token continues to leverage market support. 

Also Read: Jack Dorsey Predicts Bitcoin Will Exceed $1 Million by 2030

“According to our current Bitcoin price prediction, the price of Bitcoin is predicted to rise by 33.65% and reach $81,518 by June 12, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 57 (greed). Bitcoin recorded 15/30 (50%) green days with 3.14% price volatility over the last 30 days. “

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