Whales Accumulate Thousands of Bitcoin in Last Two Months
Bitcoin and cryptocurrency market facing the longest bear market (13 months and counting) in Bitcoin history. Bitcoin and all other cryptocurrencies are more than 80 percent down from all-time high prices.
As the negativity spreads in the market weak hands start selling their Bitcoins and other digital assets and guess who is buying?
Big players are known as “Whales” start accumulating Bitcoin (BTC) and other top major cryptocurrencies like Bitcoin Cash (BCH).
According to the rich list, the top 100 addresses take advantage of this opportunity and discounted prices to scale their bag sizes. More than 150,000 Bitcoins are accumulated in the period of 2 months since December 2018.
Bitcoin and crypto market got some momentum in the past couple of weeks. The rally is stopped by a massive dump of $500 just in 30 minutes. This story is repeated several times in the past 14 months. On every drop, whales manage to accumulate thousands of coins. According to the rich list data the wallets size increase after each drop.
Bitcoin Whales Accumulation Going On
Feb 24 drop has no difference and whales managed to get Bitcoin at the discounted price.
The top 5 wallets that hold more than 100,000 Bitcoin are related to the biggest exchanges including Bittrex, Bitfinex, Huobi, Bitstamp, Binance. Bittrex wallet leading the race and have 130,005 Bitcoins. The top 5 wallets are referred to exchanges and everyone can track them. The rest of the top 100 wallet owners are unknown. Now you can see who the whales can manipulate the crypto market.
From December the top 5 wallets manage to get 2879 more Bitcoins ($10.8 million) and the rest of the 100 wallets managed to accumulate 151,405 BTC ($572 million). The top 100 wallets may have some smaller exchanges and early adopters of the Blockchain technology.
Bitcoin Dormant address (that are not active since long) are also have an increase in the Bitcoins. Crypto community believes that these are the silent whales and investing at the dip every time.
Whenever market a move (up or down) whales are blamed by the community. This is a tradition now.
Crypto traders and hodler believes that Bitcoin and crypto market is near to bottom and the bear market will soon over.
Almost all top cryptocurrencies rich list including Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Dash coin (DASH) etc shows a good accumulation.
Bitcoinik reported that the Ethereum Constantinople Hardfork, Network Upgrade going to occur on 27 Feb. Ethereum may see a recovery after the fork.
Something Big is Coming and We are Part of It.
