The Bitcoin Halving is now 2 weeks old. Since the halving of the block rewards is not done only in the case of the hash rate a lot. Especially in the case of the Bitcoin Whales, an interesting pattern shows up. These have increased in the past few weeks, massively their shares in BTC and accumulate more Coins. In this article we consider the accumulation of the Whales, the potential impacts on the Bitcoin price and what private investors out of it.
Bitcoin exchange rate since Halving in a slight Downtrend
We begin the article with a snapshot. To this end, we take a look at the Bitcoin price over the last 30 days. We look, in particular, on its Performance since the Halving.We can clearly see that the Bitcoin exchange rate recorded immediately prior to the Halving of a break-in of about 8.600 dollars. Since the 11.05.2020 the exchange rate rose again, and moved in the direction of the brand of $ 10,000. The preliminary peak was at 18. May be achieved with around 9,900 US dollars.A few days later, on the 20.05, a renewed slump in the Bitcoin exchange rate, expressed BTC first 9.400 USD and then 8.900 U.S. Dollar began. Currently, Bitcoin traded between of 8,800 and 8,900 dollars. So we are now arrived in the present.Trade on the worlds leading Social Trading platform!Join the millions of people who have already discovered how it smarter to invest by copying the best investors in our Community, or be copied and as a result, a second income can be achieved. Start now!
Whales accumulate BTC since the 20.05.2020
According to current data, the Analysis and enjoyment of the Santiment Bitcoin Whales have been accumulating since the 20.05.2020, i.e. the beginning of the short-term downward trend, massively started BTC to.The chart below shows that Wallets accumulated a Balance of more than 100 BTC in total, more than 12,000 Bitcoin battery. This corresponds to a value of approximately $ 108 million.
1/ Are $BTC whales back to accumulating? 🤔Since Bitcoin’s drop below $9,500 on May 20th, addresses holding 100 or more #Bitcoin have added another 12,000 $BTC to their bags – more than $108,000,000 at current prices.Since the start of the year, these addresses have shown a pic.twitter.com/jWOLuKbnwA— Santiment (@santimentfeed) May 26, 2020
This is exciting, as the market behavior is used by Whales often to get a General feeling for the situation in the crypto market. By their market power and the high number of Bitcoin have Whales a certain amount of dominance in the market.At this point, one may wonder whether someone with at least 100 BTC (about 1. Million USD) shall be as a Whale referred to.Back to the market behavior: When Whales Bitcoin accumulate this often indicates that there is a medium-term upward trend. Because the buyer speculating on a rise in the price. If a lot of BTC will be deducted from the Wallets, this is quite a bearisher indicator, as a selling pressure and a stronger offer is available on the market.
Bitcoin, and the psychology of Whales
Santiment also notes that the entities have shown large amounts of Bitcoin in the last few weeks, the characteristics of Daytradern. So the amount of BTC increased during short-term Dips significantly. Shortly before the local highlights, in turn, the Whales Bitcoin sold to take profits.However, we do not need to record sober, that is a total purchasing volume of $ 108 million is still strong enough to flip BTC into a bullishes scenario. On the other hand, it shows – and now it is also for private investors – that the Whales have, in spite of the (historically) relatively high rate of interest to increase their holdings of Bitcoin.This, in turn, underlines the need and the Desire for a stable Store of Value. Also, if the global unrest around Corona flatten out again, pulled some investors probably their consequences. In BTC as a Hedge at the forefront.75 % of private CFD accounts lose money. No EU investor protection.You look better Videos to read the article? Then look at our Youtube Channel over.(Image Source: Shutterstock)