15,855 Bitcoins Transferred by Anonymous Wallets – Are Whales Accumulating?

On Thursday (March 26), Dan Morehead, Founder, Co-CIO, and CEO of blockchain-focused investment firm Pantera Capital Management LP ("Pantera Capital"), explained why the current fiscal and monetary policy in the U.S. is highly likely to "inflate" the price of Bitcoin.
Morehead's comments were delivered via the March 2020 issue of Blockchain Letter, which is Pantera Capital's monthly newsletter.
Morehead started by looking at the potential impact of COVID-19 on the economy. He believes under the "least bad scenario", the GDP of the U.S. will suffer a 4% "seasonally-adjusted annual rate decline" in Q2.
Federal Reserve Bank of St. Louis President James Bullard is, however, much more pessimistic about the economic impact of COVID-19.
As Bloomberg reported last Sunday (March 22), he told them during a phone interview that he believes "the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product."
Morehead says that "the virus is a physical constraint on economic activity" and that it will be "very difficult to counter-act with the standard economic policy tools."
With regard to monetary policy, he says:
"In the age of Zero Interest Rate Policy (ZIRP), monetary policy has already lost most of its efficacy...
"Monetary policy is impotent against the economic and psychologic impacts of a pandemic...
"With last week’s Fed cut, now almost 60% of the world’s GDP is already at its effective lower bound of zero."
As for fiscal policy, he says:
"Unfortunately, fiscal stimulus is very hard to surgically pinpoint against an invisible, physical adversary...
Bitcoin Is Worth Buying Now, Trader Explains Why
The aforementioned transactions could be signaling that investors are now actively accumulating BTC, although some might be also selling their stashes.
As Bitcoin is trading in the $6,200 area at the moment, having gone down from the $6,700 area earlier, some popular traders on Twitter are being sarcastic about the current BTC price, saying that it may hold here for a very long time.
Trillions of dollars have been injected into the global markets in an attempt to revitalize the world economy. The U.S. alone recently hit its highest unemployment rate in history.
The whole world seems to be falling apart except for blockchain
Kraken, one of the largest cryptocurrency exchanges in the United States, is looking to increase its job force by 10%, despite the recent dips in crypto price, according to Forbes on March 26.
Kraken’s team, currently 800 members strong, is adding an additional 67 hires to the company over the coming weeks. Many of the company’s openings are for people who are hospitality professionals with skill sets focused around the liberal arts.
Indeed.com displayed approximately 114.5 per million blockchain-centric jobs last December, right before the first new coronavirus case was reported. By February 2020 that number had increased 3% to 118.4 per million.

Microsoft is not sleeping on the cryptocurrency hype.
The software behemoth plans to create its own cryptocurrency that will use body activity data instead of computational power for mining. A publicly available patent titled 'Cryptocurrency system using body activity data' was published on March 26.

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Body heat instead of mining rigs
According to the patent's description, different kinds of human body activity (such as heat emitted when a user performs a certain task online or even brain waves) can be utilized for mining and serve as a proof-of-work.
One will be able to solve complex computational problems subconsciously, without relying on expensive and energy-intensive hardware.
"Body activity data may be generated based on the sensed body activity of the user. A cryptocurrency system communicatively coupled to the device of the user may verify whether or not the body activity data satisfies one or more conditions set by the cryptocurrency system, and award cryptocurrency to the user whose body activity data is verified," the description states.
A user poll conducted by Kraken has revealed that most traders are expecting Bitcoin (BTC) to break into new all-time highs before 2021.
The poll analyzed the responses of 400 “VIP” crypto traders on Kraken: 41% of respondents described themselves as “investors”, 40% identified as “traders”, and 15% as “institutions” — with the remaining 4% comprising payment processors, crypto exchanges and miners.
84% of respondents manage less than $10 million in capital, while 11% manage between $10 million and $50 million. The remaining 6% is divided evenly between traders managing from $50 million to $100 million and traders mobilizing more than $100 million.

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