Insane Hodl wave; Whales have bought $50 Billion BTC in 2020

Insane Hodl wave; Whales have bought $50 Billion BTC in 2020

Analyze Disclosure
September 2, 2020 by admin
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We have a new whale all-time high which is so important to keep in consideration. There are now 2190 addresses that contain a thousand or more Bitcoin. This metric is on the rise. Although grouping addresses with a thousand or more Bitcoins is kind of tricky because some of those accounts contain way more than just a thousand BTC. But the total amount of Bitcoin held in the accounts of in this group that we mentioned, is around 7.9 million Bitcoin.
Whales have bought $50 Billion BTC in 2020

This of course is big-time evidence that the ultra-wealthy investor class is buying Bitcoin. There are also now over five hundred thousand Bitcoin accumulation addresses which are defined as having two or more incoming transactions and which have had no outgoing transactions which have been active in the last seven years. Keep in mind that this number would exclude potentially long-forgotten addresses and minor exchanges.

Now in total, 14% of the supply is in the hands of people who are incredibly unlikely to be selling that any time soon. Much more of course when we consider that there are addresses from nine or ten years ago that we know are still alive and we know they have not cashed out, have significant amounts of Bitcoin. And also many accounts can simply be active and thus not counted on this particular metric.

It is safe to say that a huge portion of the Bitcoin supply is in the hands of some serious Hodlers which all they do is buying it and holding it. We have strong Hodlers and more and more whales are coming.

It is important to pay attention to what these Bitcoin Hodlers and Bitcoin whales are doing; they are looking around the corner and they see the big picture. You can simply understand that they are accumulating and the fact to remember is they are accumulating at these prices. The numbers keep going up and that is important because the whales are not afraid to buy here!

You have to keep in mind that the people who are starting to buy at these huge amounts normally have backgrounds of investments in other markets. And coming in with this load of Bitcoins means that they don’t want to lose! This also indicates that whales see these prices as a base and as a beginning to huge numbers in the future.

Despite the price volatility this year, more than 60% of the Bitcoin supply remained stationary for more than one year. This situation started in December 2019 has still remained as the majority of BTC supply didn’t make any moves. Analysis suggests the theory that there is a strong relationship between the amount of supply lying dormant and subsequent upward price action.

Some are calling this long-lasting Hodl wave “insane” as they compare the stationary phase lasting more than a year, to 2016 when this phenomenon happened last, which BTC price saw the Bull Run from $1,000 to famous $20K in 2017.

References
https://www.Crypto-news-flash.com/Bitcoin-whales-at-all-time-high-indicate-extremly-bullish-sentiment/

https://dailyhodl.com/2020/08/27/Bitcoin-whale-addresses-hit-all-time-high-as-richest-Crypto-investors-refuse-to-sell/
https://cointelegraph.com/news/record-high-Bitcoin-whale-population-is-bullish-for-BTC-price-analyst
https://eng.ambCrypto.com/forget-2013-2017-2020s-Bitcoin-whales-are-different/

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