The whales crypto that contain around 100 – 1,000 Bitcoin have started to accumulate more of it, ” says Kraken, an exchange of cryptocurrencies. In a report published Friday, the stock market of the USA noted a stunting of growth in the number of addresses of whales crypto from January 3, 2020. The month saw 10 – 100 holders of Bitcoin to increase their holdings of Bitcoin. However, the holders of more than 100 BTC were in an approach of “wait and see”. Then, in February of 2020 changed the perspective a little bit. Kraken said that the rise in the prices of the cryptocurrencies soon followed a jump in the traders with a 100 – to 1,000 Bitcoin. The bag called it a historical pattern, in which 10 – 100 holders of Bitcoin in the accumulation phase launched a trend that continued after 100 – to 1,000 holders of BTC.
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The smaller fish also are piling up
The increase in the number of accumulators of cryptocurrencies suggests that people are treating as an asset of value storage. The price of the criptodivisa increased from 3,120 needy dollars in December of 2018 to something over $ 10,000 in February 2020, which demonstrated that the operators increased actively its exposure to the risk of the asset not conventional. Last month, the company intelligence Blockchain Glassnodes noted a sense of “build” something similar between the retailers. He stated that the number of addresses with balances between 0.1 Bitcoin and 1 Bitcoin increased by 10% from 2018. “We anticipate that the build will conclude in the weeks/months to come, and that the volatility will re-emerge,” said Kraken. This dynamic of accumulation that precedes the volatility can be explained as the absorption of the liquidity of the market, creating conditions of imbalance adjusted between supply and demand in the future. Whales crypto continued accumulating during the month of February. If you like you can check all the reports made by CriptoTendencia up to this point.
What is driving the whales crypto?
Kraken pointed out that the demand for Bitcoin as an asset of risk rose in a series of macroeconomic developments. The correlation of the crypto-currency with some of the main instruments of risk and shelter increased a little bit after it happened to the united States and Iran. While the conflict can be settled later, a new risk emerged in the form of the Coronavirus outbreak in China. The epidemic killed about 1,500 people and infected more than 50,000 more. At the same time, he made that world stocks are desplomaran strongly at the time that drove demand for hedging assets. The following two tabs change content below. A degree in Liberal Studies from the Metropolitan University. Lover of innovation and a believer of the technology for the future.