Glassnode: the number of “whales” has increased significantly in anticipation of the halving
Glassnode analysts report that in anticipation of the halving of the Bitcoin mining reward to be held in May, major players are building up the first cryptocurrency reserves in their wallets.
In the report, the researchers emphasized that the number of wallets with a large supply of BTC (more than 1,000 coins) increased before the market fell March 12-13, and then began to grow at an accelerated pace. That is, the “whales” are accumulating bitcoins and, according to analysts, this is a rather optimistic signal for the market.
The number of “whales” has already increased to the level of the end of 2017. However, at that time, the trend went on to sell large reserves of the first cryptocurrency. But a similar accumulation of BTC also took place before halving the award in 2016. After that, BTC showed stable and powerful growth, which ended only in 2017.
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“According to the trend, even despite the uncertainty in the market, the“ whales ”remain confident that now is a good time to buy BTC. So, they expect Bitcoin to grow, ”Glassnode analysts concluded.
Recall that recently the popular analyst Tone Vays (Tone Vays) said that he expects Bitcoin to grow, and if the first cryptocurrency drops to the level of $ 6,400, then it will increase its position.