Who Moved The Price of Bitcoin 25%?? More Market Analysis with Python

Wow - this is absolutely mind-boggling, crazy amazing - we now know what it takes to move the price of bitcoin 25%. On April 2nd, BTC jumped 25%!! It went from almost 4k to almost 5K??? Let's continue our market analysis with Python series, roll up our sleeves, find the data, and break out the Jupyter notebook!
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Financial data:
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https://coinmarketcap.com/currencies/bitcoin/
Transcript
Wow - this is absolutely mind-boggling, crazy amazing - we now know what it takes to move the price of bitcoin 25%.

Unfortunately, it isn't a secret hack or a magic password that you have to whisper in your microphone, as you know its a certain amount of money but we now know how much!

Welcome to the ViralML show, I am Manuel Amunategui - author of a few books including 'creating incoming streams' - drop my name in Amazon to check out my books and sign up for the newsletter - I really appreciate for your support. This talk will be filed under 'Finance'

I don't watch much price action too closely as I spend it in other ways - until I got the alert about this huge jump in BTCcc

Hunter Horsley, CEO of Bitwise who is applying for the first-ever bitcoin ETF, said on CNBC,
"The most likely explanation is a Royteurs report of a private buyer purchasing more than $100 million worth of bitcoin over a short period. Given the small daily trading volume of bitcoin, that order would be enough to have an impact..."

Who on earth dropped 100 mils on BTC?? and why??? The purchase into the market obviously didn't go unnoticed so we can conclude that moving that kind of size isn't for a discrete in-out flip... We all know that the bitcoin dream came from those that started mining in 2010 or those rode it up. This isn't a game for 100 million dollar whales...

100 BTC addresses own almost 20 billion dollars worth - yet look at the market cap? You can't speculate on large amounts because that makes you the market... its a bit of a catch 22.

Well, I can guess why moving money under the radar? Laundering? That size is beyond speculating, and I'll stop speculating myself and instead.... drum roll...


Let's roll up our sleeves, get the data and plot this. We're going to fetch really good quality BTC data from CoinMarketCap for this analysis.

And, as a bonus, let's check the correlation between the SP500 and bitcoin

CATEGORY:Finance

HASCODE:ViralML-Hands-On-Market-Analysis-Bitcoin-VS-SP500.html

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