Showing posts with label bitcoin. Show all posts
Showing posts with label bitcoin. Show all posts

The Data PROVES It: The Wealthy Are BUYING UP BITCOINS, As Amateur Investors Continue To Sell In Fear...

Bitcoin whales buying

The Whales, bitcoin holders who manage between 1,000 and 10,000 Bitcoins, who had sold when the price had topped $30,000, have changed their strategy and are now accumulating.

The report from Ecoinometrics compared the activity of seven holder segments over the period of November 2020, starting from those with less than 1 BTC to whales: addresses with less than 1 BTC, 1 to 10 BTC, 10 to 100 BTC, 100 to 1,000 BTC, and 1,000 BTC to 10,000 BTC.

Ecoinometrics says the post-halving bull market really began in October when the price started to take off from the $10,000 price zone. 

bitcoin trends
The More Bitcoin They Own, The Less They're Selling...

The document highlights a noticeable difference in the behavior of the BTC in the hands of the so-called fish (with a value of less than 1 BTC) and whales. According to the graph, the group with addresses between 100 BTC and 1,000 BTC has acquired bitcoin with the greatest resolve, especially during the period when the price rose from $30,000 to $60,000. 

Top Traders Believe Another Bitcoin Rally Is Around The Corner...

In February, the BTC of whales' addresses began to recede, most likely as a result of profit-taking, but after the price of Bitcoin returned to $30,000, a resumption of accumulation in this segment of large holders has been noted, according to the report.

 The study found that profit-taking has already ended in the five groups studied, but the picture has changed since BTC's price stabilized in the $30,000 range. 

Whales and small fish have rebounded in value, while other groups have become neutral. As suggested in the study, these first signs of a rebound in value could lead to a return to BTC's increased price growth. 

In Glassnode's most recent Bitcoin market report, it is estimated that exchanges send 2,000 BTC per day as net outgoings (being taken off exchanges), which is backed up by on-chain data. This finding is in line with the Ecoinometrics study.

Coins being removed from exchanges and in to private cold storage/secure wallets is a sign of someone confident they won't be selling anytime soon.  There never has been more Bitcoin off exchanges than there is now. 

Author: Fernando Perez
Latin America Newsdesk

Here's What Billionaires, Governments, and Corporations Did While The Average Person Got TRICKED Into Selling Their Crypto...

crypto market crash

It's like it was decided in a dark room with no cameras or microphones - before this cryptocurrency thing really takes off, we can't have these peasants getting rich from it.

There was also a lot of 'old money' that missed out on the first couple rounds. In 2017 they said it was nothing more than a bubble, when it popped they said 'told you so' and never looked back.  While their backs were turned, crypto made them look foolish again. 

Now, they want in, and magically they're getting the chance at last year's prices - somehow things always work out for this small group of people who happen to own the publications writing the stories that are scaring retail investors into selling. 

Sounds like paranoia? A crazy conspiracy theory?

Well then, explain why as the average retail investor was selling - billions of dollars, along with valuable corporate and government resources continue to pour into the crypto market. 

Moves that make no sense if it's truly a market in decline, and the people making these decisions are wealthy because of their track record of making profitable decisions at the right time.

So while so many people were convinced to sell - what were they doing?

MicroStrategy Bought $489 Million More Worth of Bitcoin...

Apparently, while so many average people were convinced to sell their small holdings, they looked at the same charts and said "spend another half-billion" full story here.

Bringing their total holdings to 105,085 bitcoins at a total cost of $2.74 billion, this firm with a publicly traded stock represents where Wall Street and crypto meet.

JPMorgan Chase is expanding their cryptocurrency services....

The largest bank in the US isn't acting like crypto is going away either.

A peek into JPMorgan's open job positions makes it clear, they're expanding their crypto-capabilities.

They currently process a massive $1 trillion+ in annual transactions, and what's catching people's eye is reference to a “New Payment Methods” team to focus on "Buy Now, Pay Later; Pay w/Points; cryptocurrencies, etc".

A Crypto Start-Up, Amber Group raised $100 Million at a $1 Billion Evaluation...

A company founded by a group of former investment bankers, the company now has over 330 employees across their offices in Hong Kong, Taipei, Seoul and Vancouver.

They're not having any trouble finding large investors who still want in to the crypto market. 

Genesis Digital Assets is buying 10,000 more mining rigs...

Seeing a gap left by China forcing miners to shut down, Genesis Digital Assets has bought 10,000 bitcoin mining rigs from Canaan, a manufacture that specializes in the type of chip used for bitcoin mining.

Wasting no time - the order is supposed to be delivered by the end of this month. It's almost like they're expecting a rise in transactions, and soon. 

3 US States are fighting for the crypto industry to make their state home...

In the last few weeks, 3 states that previously hadn't said anything noteworthy about cryptocurrency are now suddenly openly saying they love it.

Texas, Florida, and Illinois are all making the case that their state laws, and power grids are the most crypto-friendly. 

Final Thought...

Perhaps the most interesting thing I noticed - right now it's easy to find someone who first bought crypto a couple months ago, having a total panic today and admitting defeat - they sold what they had. They're on every crypto message board or chat room.

What I can NOT find anywhere - A billionaire who recently invested saying they sold, or a corporation that invested in crypto or made moves towards their business becoming crypto-inclusive, saying they sold, or are canceling plans. 

Not even one.

Author: Ross Davis 
E-Mail: Twitter:@RossFM
San Francisco Newsroom / Breaking Crypto News

US Examines How To Regulate Crypto, And Top Companies In The Industry Are Making Sure Their Voice Is Heard...

A battle is brewing in Washington over how to regulate the cryptocurrency industry, and industry leaders want to make sure they have a say.

The top currency companies have hired lobbyists, lawyers and consultants in an effort to gain greater influence over how much, or how little the industry is regulated.

Eric Lipton, a reporter with the NY Times says the Biden administration knows they'll have to address the issue. 

Video courtesy of CBS News

The HYPER-BULLISH Effect: Huge Increase In Long-Term HODLing, Coins Moving To Secure Offline Storage - Leaves SHRINKING Available Supply On Exchanges...

Cryptocurrency holding study chart

When looking at the amount of Bitcoin or Ethereum that has been held for more than 6 months by the same person/entity, we immediately can conclude one clear fact - crypto investors believe the market is nowhere near the top.

When investors believe the top is approaching, we will see more short-term trading activity as well coins moving back on to exchanges, so they'll be ready to trade.

Instead, we're seeing the complete opposite - investors holding coins longer, and investors unconcerned with being able to sell their Bitcoin or Ethereum quickly.

Investors main concern:  security storing their crypto....

Which is why huge quantities have been taken off exchanges and placed into offline cold storage.

The study of how long coins were being held by the same investor was conducted by Glassnode, who says their long-term holding charts indicate "a strong HODL conviction" in the current market.

The Hyper-Bullish Effect...

We're talking about the most basic fundamentals behind supply and demand - and what we're seeing is a supply being accumulated and removed from the open market, while demand continues to grow. 

This is a combination of factors that sends prices (of anything) upwards fast, as new buyers entering the market are left in bidding wars over a dwindling supply. 

Until recently, crypto investors have overwhelmingly had one thing in common - thinking they may have to sell it all in a moments notice.  That's why this strong trend in the opposite direction is a true indicator of a new, different market, made up of investors confident in their investments. 

Author: Ross Davis 
E-Mail: Twitter:@RossFM
San Francisco Newsroom / Breaking Crypto News