{"id":401213,"date":"2019-10-11T22:00:13","date_gmt":"2019-10-11T22:00:13","guid":{"rendered":"https:\/\/ktsl888.com\/?p=401213"},"modified":"2024-06-11T13:31:01","modified_gmt":"2024-06-11T13:31:01","slug":"more-whales-are-hoarding-bitcoin-after-accumulating-during-bear-market","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/more-whales-are-hoarding-bitcoin-after-accumulating-during-bear-market\/","title":{"rendered":"More Whales Are Hoarding Bitcoin After Accumulating During Bear Market"},"content":{"rendered":"

A new data set has emerged that shows the growth in Bitcoin<\/a> addresses holding more than 1000 BTC, and it is currently experiencing a new high following the bear market.<\/span><\/p>\n

But what does this information mean? Was smart money buying up Bitcoin from retail investors dumping their crypto at a loss? Or is the HODL effect spreading like wildfire, and more and more crypto investors are buying up as much of the limited Bitcoin supply ahead of the halving?<\/span><\/p>\n

Number of Addresses HODLing More Than 1000 BTC Spikes Amidst Bear Market<\/h2>\n
Holding through bear markets may be painful and even frightening for bullish investors who bought high, but don\u2019t want to sell low. But for others, it can be an opportunity of a lifetime to accumulate an asset at its lowest possible price for the greatest financial reward.<\/span><\/p>\n
And that\u2019s exactly what had happened during the 2018 crypto winter, as can be seen by the growth of Bitcoin addresses containing more than 1000 BTC.<\/span><\/p>\n
Related Reading | Send Bitcoin and Other Crypto To Uncensorable, Personalized Domain Addresses\u00a0<\/a><\/strong><\/em><\/p>\n
After Bitcoin<\/a> hit its peak in 2017 of $20,000, there was an abrupt decline in the number of addresses holding more than 1000 BTC. The number mostly flatlined throughout most of 2019, but just ahead of the deep November drop \u2013 the drop that pushed Bitcoin below support at $6,000 and sent it to its bear market bottom \u2013 the number of addresses holding more than 1000 BTC rose by nearly 20%.<\/span><\/p>\n
As soon as Bitcoin reached its bottom at roughly $3,150, the number of addresses containing 1000 BTC or more spiked yet again. Just ahead of the April 2019 rally that sent the asset parabolic, yet another spike happened, taking the number from a bear market low around 1500 addresses with 1000 BTC or more, to 2000 – or a 25% total rise.<\/span><\/p>\n
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Number of #Bitcoin<\/a> addresses holding more than 1000 $BTC<\/a> \ud83d\udc40 pic.twitter.com\/SGdBXrob5e<\/a><\/p>\n
— glassnode (@glassnode) October 11, 2019<\/a><\/p><\/blockquote>\n