The Crypto Market Will Soon Welcome BTC WhalesColin Baseman
People who have gained plenty of experience in the crypto community know much more than those who have just started this sort of activity. Since the crypto industry is ready to offer endless opportunities to the nation, the number of newcomers is steadily increasing.
What beginners do is they first look around and see how the more experienced members of the society have achieved their fantastic results and learn from them. Afterward, most start developing their own strategies and follow individual tactics while selling or trading their crypto assets.
Three years ago the number of participants who were willing to enter the crypto market was phenomenal. In September, there were more BTC traders than ever before. Similar tendencies are occurring at present, too. More than that, among those people, there are the so-called ‘whales’ – these are participants who are capable of affecting the crypto’s price and changing the usual course of things in the entire BTC world. People whom we regard as BTC whales are numerous, and yet their number is growing – it is currently close to that the industry saw in 2017. Back then, the token was ascending to twenty thousand USD.
Analysts keep investigating the crypto market and studying it on a deeper level now. They claim that the number of investors who can boast an incredible amount of BTC is not far from the levels the crypto world hasn’t witnessed for three years already when the BTC’s rally was then close to twenty thousand USD.
According to the latest reports, there has recently been a stable increase in the number of BTC whales. Some traders hold around one thousand BTC or even more this year.
Taken from Glassnode
As far as experts know, there are now almost 1890 of such participants. These numbers remind of the amounts reported three years ago in September, right before the crypto began ascending to twenty thousand USD. Nevertheless, analysts state that the same number of whales had huge amounts of BTC in the spring of 2016 – then the price was below four hundred and twenty USD.
The crypto’s price is currently twenty times as high as it was before the very first whales appeared. That indicates that all these people have become wealthier and more successful in the crypto industry. Experts make comparisons and see the differences between the amounts of BTC whales held two years ago and note that this year they hold less crypto.
Strong Enough to Move Markets
A few months ago, several prominent mass media sources reported that many BTC whales are considered to be HODLers. They choose not to move their digital assets. The majority of such participants are not willing to cash out their cryptocurrency, either. This may last for up to five years or longer. Yet, they do not change their strategies and do not adjust their tactics even when they witness a visible market correction.
Users still remember the crash that occurred three months ago – that’s when the crypto’s price fell to three thousand six hundred USD. It is now surprising to realize that many of the BTC whales chose not to move their funds.
What the crypto market cannot deny is that whales can make a great impact on the price. This week, the price decreased and reached nine thousand USD. That’s something the industry hasn’t faced for a few weeks. BitMEX and other exchanges report that hodlers liquidated thirty million USD and decided to sell their reserves.
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