In the world of cryptocurrency, we will highlight a rare event. A Bitcoin wallet, inactive for 10.7 years, has awakened. In other words, it has come back to life with a tremendous gain. The wallet’s owner might have remembered a fortune forgotten for years or taken a trip back in time through the technological marvel of Blockchain.
From 2013 to 2024 or From $13,259 to $1,185,944
In 2013, an investor with only 19 Bitcoins in their wallet, valued at $13,259 at the time, might have forgotten about their cryptocurrency. However, years passed. Bitcoin experienced price fluctuations, and today the wallet’s value has reached $1,185,944. This translates to an exact gain of 8,844%. A fortune that an ordinary person might not accumulate in a lifetime became accessible again with almost the push of a button.
The reactivation of such old wallets brings many speculations. Owners might no longer resist and want to benefit from the extraordinary market rise. Or perhaps a long-forgotten password was remembered. Scenarios like the recovery of lost or stolen wallets could also explain these activations. Whatever the reason, similar events in the past have caused significant waves in the cryptocurrency world.
Bitcoin Rises and the Cryptocurrency Market Revives
Bitcoin has started to rise again after a long period of stagnation. In today’s trading session, it reached up to $61,457, bringing smiles to investors‘ faces. Since the sharp decline at the beginning of August, Bitcoin’s 19% increase has largely dispelled the fear in the market.
Another development occurred on the Bitcoin whale front. Known as large investors, “Bitcoin whales” have accumulated 94,700 more Bitcoins in the last six weeks. The accumulation of BTC by Bitcoin whales shows the confidence of the market’s big players in the future.
What Are Bitcoin’s Resistance and Support Levels?
According to technical analyses, Bitcoin’s first major resistance level is at $61,407. This figure also coincides with the 50-day moving average.
At a higher level, the 200-day moving average of $62,844 is critically important. Support levels are set at $59,500 and then $58,500.
