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May 25, 2020
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Bitcoin

Whale with 68 000 BTC – big players are strong HODLers – Blocksats

Big whale on the Web Bitcoin (BTC) with 68,000 BTC (approximately USD 523 million) did not carry over these funds for over five years. Other chain data show that other investors of this type keep their BTC on average for 4.7 years.

The average whale bets on BTC

As it turns out, whales they keep their digital savings without moving their wallets for years. Even March 12 price kryptowaluty fell to just $ 3,600, and many whales did not transfer their funds to stock exchanges at the time to convert them into, for example, USD. This paints us a very optimistic, long-term trend on the cryptocurrency market.

The infrastructure servicing the cryptocurrency market has improved significantly since 2015. More and more trusted trust companies are being created and a greater variety of futures exchanges are available.

Retail and institutional investors are actively accumulating Bitcoiny after intensive corrections. An analytical report published by Coinbase showed that after falling to USD 3750 in March, retail investors immediately bought cheap BTC.

In turn, data from the Grayscale report from the first quarter of 2020 also showed that a noticeable increase in Bitcoin demand from institutional investors was observed.

It can be seen, therefore, that as more and more investors accumulate BTC and buy them with the prospect of holding for a few years, the supply of cryptocurrency in circulation is decreasing, which may weaken any possible declines in the markets.

The best asset for a long period

What’s more, whales already clearly perceive Bitcoin as the best long-term storage asset.

Researchers at CoinMetrics have discovered, for example, the HODLer of 68,000 BTC, mentioned in the introduction, who was doing something last time in April 2015.

Over the next dozen or so days, investors who play for a short time may feel great excitement and nervousness. It is of course about Halvingwhich is to take place around mid-May. BTC may rise to this point, and then – as in the past – pass a correction. Then further boom is possible (if of course the scenario from previous cycles is repeated). However, breeders like whales will probably sleep peacefully …

Current course You can always check Bitcoin and other cryptocurrencies in the tabs: course Bitcoin and cryptocurrency exchange rate on Bitcoin.pl. A place where you can buy Bitcoin and other kryptowaluty, include cryptocurrency exchange BitBay.net. If you don’t have a BitBay account yet, this article will show you how to create one efficiently: LINK.

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