Google search Bitcoin increased 33%, Whale Alert recorded large amount of money transferred

By Selena On Feb 11, 2020

The Bitcoin-related search had jumped 33%, according to the latest report from Google Trends, when the coin broke out last week. Google search Bitcoin is often considered a reasonably slow indicator compared to market fluctuations. Usually, this index only increases after the market has significant volatility. However, it seems that last week’s price increase coincided with the time when searches on Google soared (33%).

Google search Bitcoin increased by 33%

Searches on Google are also now more diverse in content related to cryptocurrencies. Many people are also interested in topics about Scam on Google. For example, the “Bitcoin doubler club” sees 3,400% of keyword searches. The index with “Moon bitcoin live” also jumped last week. As a result, a 33% increase in searches related to Bitcoin is good news, but most are related to a scam topic.

I check this out and find people searching for double-your-bitcoin schemes ?‍♂️ pic.twitter.com/zcRovUkMnH

— Tim (@Timccopeland) February 10, 2020

The number of Bitcoin-related posts on the internet has skyrocketed compared to 2019. At the same time, there have been studies showing the relationship between Bitcoin prices and social media mentions.

Will the fluctuations in search volume lead to another round of price increases? It is difficult to conclude. However, this morning (February 11), there was information that a large amount of money had just been transferred to exchanges. This will likely lead to another significant volatility in the cryptocurrency market, and traders should keep an eye on the information on the channels to be able to react quickly and effectively.

Whale Alert noted a large amount of money transferred to the exchange; the hunt began?

Today is a busy day for whales in the coin market. A large amount of deposits has appeared on the exchanges. Are the big players taking advantage of this Bitcoin comeback?

? 1,069 #BTC (10,529,479 USD) transferred from unknown wallet to #Binance

Tx: https://t.co/wlVIIcyGJu

— Whale Alert (@whale_alert) February 10, 2020

Bitcoin once again fell below $ 10,000, and major players are taking this opportunity to go on a hunt. Whale Alert has warned of large amounts of money being deposited on various exchanges.

Here is a summary of what Whale Alert recorded:

1,069 BTC (10.5 million USD) was deposited on Binance.
Three significant transactions on Coinbase today: 700 BTC (6.8 million USD), 708 BTC (6.9 million USD), and 710 BTC (7 million USD).
551 BTC ($ 5.4 million) was deposited into Bitstamp.
Huobi saw three major transactions in the form of USDT: 9,999,940 USDT, 4,999,950 USDT and 5,000,000 USDT.

The above are transactions posted on the exchange. At the same time, Tether Treasury had just made a chain transfer when 25,000,000 USDT was formed on the TRON Blockchain. TRON in December had rolled a net of 916 million USDT on the network, and now the figure has nearly reached the 1 billion USDT threshold.

? ? 25,000,000 #USDT (24,946,788 USD) transferred from Tether Treasury to #Bitfinex

Tx: https://t.co/GMi7ZqYMDB

— Whale Alert (@whale_alert) February 10, 2020

Catching Bitcoin bottom?

The appearance of many large exchanges on the exchanges shows that big players are looking to take advantage of recent price movements. Bitcoin has once again dipped below $ 10,000 and appears to be an opportunity for the whales.

However, not everyone is convinced by that theory. It can be seen that most of the above large transactions are in the form of BTC, making the hypothesis of a mass discharge quite large.

The whale Joe007 (@ J0E007) believes the market is currently overblown. And the market is being established by the volume of “virtual value” despite the recent fluctuations known by many as “adjustments.”

Currently, on-chain data show that the activity of many investors is rising sharply, especially before Bitcoin hits $ 10,000. This indicates that this breakout is quite fundamental and maybe the reason why many whales push money to the exchange today.

Disclaimer: This is not trading advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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