Bitcoin’s Record-Breaking Rise
Bitcoin has hit a new high of $73,000, but it’s not all good news. Some investors are worried about what happens next.
Whales Awaken
“Whales” are people or companies that hold a lot of Bitcoin. One whale recently woke up after sleeping for 12 years. They sold all their Bitcoin, which was worth $4,000 in 2012 and is now worth $35 million.
Sell-Off Fears
This whale’s move has made people think that other whales might sell their Bitcoin too. This could cause the price to drop.
Halving Event
There’s also a Bitcoin “halving” event coming up on April 19th. This means that the number of new Bitcoins being created will be cut in half. In the past, this has led to price drops.
ETFs Fueling Whale Activity
Some experts think that the recent rise in whale activity is because of new Bitcoin ETFs (exchange-traded funds). These ETFs make it easier for people to invest in Bitcoin, which could be bringing in new money.
Uncertain Future
It’s hard to say what will happen to Bitcoin in the coming weeks. Whales may be selling, or they may just be moving their money around. Investors should be careful and watch the market closely.
