According to Newsbtc, the latest data shows that the number of addresses with more than 1,000 bitcoins has increased and reached a new high after a bear market.
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In the bear market, the number of addresses holding more than a thousand bitcoins peaks
It may be painful to hold the bear through the bear market, and for those who are buying at a high price but not willing to sell at a low price, the bear market will undoubtedly bring panic. However, for others, this may be a once-in-a-lifetime opportunity to accumulate assets at a low price and wait for the greatest economic return.
This is exactly what happened in the 2018 encryption "winter", with an increase in the number of more than 1,000 bitcoin addresses. "Whales" may have accumulated a lot of bitcoin resources during the bear market in 2018, and now they simply need to hold them.
After Bitcoin reached a peak of $20,000 in 2017, the number of addresses holding more than 1,000 bitcoins suddenly dropped. This figure was basically flat for most of the 2019 period, but in November Bitcoin fell sharply, fell below the $6,000 support level and then fell to the bottom of the bear market, holding more than 1,000 bitcoin addresses here. The period has increased by nearly 20%.
When Bitcoin hit a low of about $3,150, the number of addresses in excess of 1000 bitcoins surged again. Before the rebound in April 2019, there was another surge in the number of addresses, rising from about 1,500 addresses in the bear market low to 2,000, a total increase of 25%.
In 2019, the "big whale" increased dramatically, possibly due to the influx of institutions or exchanges. Bakkt is probably one of them because it needs to store bitcoin for the actual delivery of futures.
The number of more than 1,000 Bitcoin addresses seems to have risen before the currency price fell sharply , as the indicator rose again before the cryptocurrency fell below $10,000 on September 24.
According to the crypto market analysis and data intelligence company Glassnode's chart, the number of more than 1,000 bitcoin addresses now has reached a five-year high.
Has the “whale” and experienced investors accumulated a lot of bitcoins before halving?
First, this may mean that in the massive sell-off after the 2017 bubble, “whales” and experienced investors have been accumulating bitcoin at the lowest possible price.
According to the Wyckoff cumulative model, the best investor buys assets at the bottom of the price and then raises the price during the markup phase. This seems to be exactly what happened. It shows that someone has accumulated a lot of bitcoin, and it is only the beginning of the fare increase phase.