Bittime - The crypto industry is once again enlivened by the actions of big players (smart money) who have the potential to move the market. According to monitoring by The Data Nerd, a crypto address suspected of belonging to smart money made a large purchase tokens three days ago.
Big Purchases and Profit Potential
Based on the data compiled, the address spent US$1.18 million to buy FRIEND. The average purchase price of FRIEND tokens at that time was US$1.61. Interestingly, until now, the owner of this address has not made any FRIEND sales. With FRIEND's current price, it is estimated that the buyer will have a significant floating profit, namely around US$807,000.
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The term "Smart Money" in Crypto
In crypto, the term “smart money” refers to large institutional investors, experienced traders, or whales (owners of large amounts of crypto) who have extensive knowledge and experience in the crypto market.
Large buying actions by smart money often attract the attention of other market players because they can be an indicator of positive sentiment and a potential increase in the price of the token.
Potential Impact on FRIEND Prices
Although investment decisions are completely in the hands of each individual, this "smart money" action has the potential to influence the price of FRIEND. Some scenarios that might occur include:
- Price Increase: If this news spreads widely and attracts the interest of other investors, the price of FRIEND has the potential to increase. Other investors may be encouraged to follow the lead of the "smart money" in hopes of similar returns.
- Price Stability: Alternatively, FRIEND's price will remain stable. This can happen if the "smart money" action is not followed by large-scale purchases from other investors.
- Price Correction: Although unlikely, the price of FRIEND can also experience a correction (decrease) if the buyer decides to sell their FRIEND holdings in large amounts. However, this decision will of course affect the profits they earn.
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Smart Money is not a guarantee
It should be noted that this smart money action is not a guarantee of profits for other investors. Crypto prices are known for their high volatility so there is always a risk of a significant price drop. Before making an investment decision, it is important to conduct fundamental and technical research and analysis of the FRIEND token.
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How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
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Friend.tech Launches FRIEND Token Airdrop, Here's the Leaked Information!
Friend.tech In Trouble, FRIEND Token Price Falls 98% After Launching!
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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