U.Today - Jeremie Davinci, an early Bitcoin investor and an important figure in the crypto community, has taken to his account on social media platform X (widely famous as Twitter in the past) to publish a tweet that shows his strong unfading belief in BTC.
Davinci published a tweet that may be interpreted in various ways: “Truth is indestructible. #Bitcoin” and may refer to specific things, such as the strictly limited 21 million Bitcoin supply, or to things that are vague and abstract that Bitcoiners love to tweet about regarding BTC as an idea or an innovative concept.
This tweet triggered bullish comments from Davinci’s followers, who support the world’s flagship digital currency, Bitcoin.
Over the past 24 hours, BTC has been trading in the $69,000 range, and just in the past hour, it plunged to the $68,300 zone, losing 1.33% in the past day overall. Looking at a longer time frame, it has shed 7.26% since Tuesday, Oct. 29, after it had come really close to the $74,000 price high.
Whales are buying Bitcoin on dip
As reported by U.Today earlier, crypto tracking platform Whale Alert published the details of an enormous Bitcoin withdrawal from major crypto exchange Bybit. An anonymous whale moved 2,000 BTC from there, likely to a cold storage address. That amount of crypto was equal to $137,247,624. This whale currently holds an astonishing 51,710 BTC worth $3,569,790,542.Another on-chain data source, Lookonchain, also reported several massive Bitcoin purchases made on the Binance exchange since Nov. 1. Five different wallets purchased 2,780 Bitcoins in total in the following chunks: 880 BTC, 615 BTC, 595 BTC, 550 BTC and 140 BTC.
All these five purchases but one were made below the $70,000 level. The massive Bitcoin plunge witnessed at the moment can be attributed to the high level of uncertainty present on the market as U.S. Election Day approaches. Many weak hands are selling Bitcoin, but those holders who are called “diamond hands” in the crypto community are purchasing BTC at a discount from them.
Multiple experts have predicted a staggering Bitcoin rise next year. Among them was Robert Kiyosaki, known as the author of “Rich Dad Poor Dad” on personal finance management. In a recent tweet, he stated that he loves “the Bitcoin Standard.”