Bitcoin accumulation at all time high

bayu7adi

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Quote from: mvdheuvel1983 on October 18, 2023, 03:05:15 PM

It is a sign of many things. Including:

Growing global awareness and adoption - There is a growing awareness of Bitcoin and people are seeing the rel life effect of holding and not holding bitcoin. They prefer the former.

Halving - People don't want to be on the "wrong" side of history during and after the event. They don't want any bitcoiner to say"I told you so" if they miss it.

It's a flex- If you are a Gen Z or millennial and don't have some bitcoins. You are almost looked at as old school. We know that is the last thing they want to be called.

This could also be pre-bull run hoarding, as news about Bitcoin ETFs seems to be unsettling the market. It's not wrong for some individuals to view this as an excellent opportunity to avoid missing out.

The downside, however, is if such a substantial accumulation of BTC is undertaken by institutional investors who have the potential to create a massive barrier or even initiate a Bitcoin dump when the market turns bullish. As usual, price manipulation in an asset can indeed occur, and Bitcoin is not exempt from that possibility.

On the rest of the points you've made, I concur.

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Quote from: krishnaverma on October 20, 2023, 11:25:26 AM

This could be good time to invest for new investors. But the problem with most new investors ia that they invest when the market is at its peak. They are attracted by all the hype and news coming in TV when Bitcoin reaches all time high. And when the market corrects, they leave in loss and also tell bad things about crypto to their family as well.

New investors like that still don't understand how to take advantage of the moment, so they often enter at the wrong moment and also make the mistake of releasing Bitcoin when the price is low. They should see their own mistakes as an experience, instead of telling bad things about crypto to their family and also those around them and for me this kind of thing is quite strange because some new investors really don't realize the mistakes they have made in the way they invest.

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Quote from: mindrust on October 20, 2023, 06:10:14 PM

It is only natural because the btc halving is near and everybody knows it. If you study the other halvings, you will see that btc price rocketed off afterwards. This halving will not be an exception and therefore people are feont running it. The other reason is the probably the war between Israel and Palestine. Gold is moving up too lately and we also know that btc and gold move together sometimes. The investors are not blind. They see all these and buying every btc in the market because it makes sense to do so.

People had already anticipated such a possible thing to happen and they accumulated some while the price had not yet skyrocketed.
So while many were getting into such thinking, price increase is what we gonna expect and here we are now, the current price is the result of huge demand. Probably not because of war but surging investors while catching the price before it skyrockets. We can expect more price increase as the halving come closer and it continues to rise to the next ATH high.

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Quote from: wallet4bitcoin on October 20, 2023, 05:41:10 PM

Quote from: krishnaverma on October 07, 2023, 05:01:19 AM

Source
https://cryptotale.org/bitcoin-whales-accumulate-71155-btc-in-6-weeks-nearing-all-time-high/

They have accumulated 71555 btc in less than 6 weeks. Is this a sign of coming bull run now ?

Most of those accumulations are from investment companies, and also investors who consider bitcoin as a value buy it and store it as value.
Those who missed out on it earlier are now trying to gather all they can and since bitcoin is now being globally accepted, its a good sign that their investment is safe, if they save it for a long time without having issues of it being obsolette. And the total supply isn't enough for everyone to have 1 per person. For now, people can afford to buy as much as they can and keep it as they consider it cheap, if its price hits hundreds of thousands, it will be almost impossible to accumulate it the way they are currently doing.

Bitcoin is demonstrating supply and demand. With its capped supply, those in the know are, as you mentioned, scrambling to acquire what they can. Global acceptance? The trend is upward, but is it a bubble?

The claim that long-term investing is safe needs significant consideration. Global acceptability, technical advancement, political landscapes, and economic shifts are all important. Can an asset so unpredictable and exposed to so many external pressures be safe? Accumulators are smart yet risky. Every viewpoint must be properly assessed, especially when so much is at risk.

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Quote from: krishnaverma on October 07, 2023, 05:01:19 AM

Source
https://cryptotale.org/bitcoin-whales-accumulate-71155-btc-in-6-weeks-nearing-all-time-high/

They have accumulated 71555 btc in less than 6 weeks. Is this a sign of coming bull run now ?

This shows that other whale investors are preparing to hold large amounts of bitcoin in the market for the upcoming bitcoin halving next year. Apparently, as long as there is an opportunity to collect them while the price is still low, others are already taking advantage of it because, when its value kicks into the market, it seems that it is difficult to buy because it is expensive.

Let's not be like others, who only buy when Bitcoin rises or becomes expensive in the crypto market. When you're like a passenger left behind by the bus you're driving, it's hard to catch up when that's the situation.

mindrust

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It is only natural because the btc halving is near and everybody knows it. If you study the other halvings, you will see that btc price rocketed off afterwards. This halving will not be an exception and therefore people are feont running it. The other reason is the probably the war between Israel and Palestine. Gold is moving up too lately and we also know that btc and gold move together sometimes. The investors are not blind. They see all these and buying every btc in the market because it makes sense to do so.

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Quote from: krishnaverma on October 07, 2023, 05:01:19 AM

Source
https://cryptotale.org/bitcoin-whales-accumulate-71155-btc-in-6-weeks-nearing-all-time-high/

They have accumulated 71555 btc in less than 6 weeks. Is this a sign of coming bull run now ?

Undoubtedly, now it's high time to accumulate before the halving pump. Regardless of if the final dump is or isn't going to happen, the price is pretty low atm. You are not going to see such bargain prices in the coming 1-2 years. Whales are whales because they know what they're doing.

wallet4bitcoin

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Quote from: krishnaverma on October 07, 2023, 05:01:19 AM

Source
https://cryptotale.org/bitcoin-whales-accumulate-71155-btc-in-6-weeks-nearing-all-time-high/

They have accumulated 71555 btc in less than 6 weeks. Is this a sign of coming bull run now ?

Most of those accumulations are from investment companies, and also investors who consider bitcoin as a value buy it and store it as value.
Those who missed out on it earlier are now trying to gather all they can and since bitcoin is now being globally accepted, its a good sign that their investment is safe, if they save it for a long time without having issues of it being obsolette. And the total supply isn't enough for everyone to have 1 per person. For now, people can afford to buy as much as they can and keep it as they consider it cheap, if its price hits hundreds of thousands, it will be almost impossible to accumulate it the way they are currently doing.

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Quote from: Finestream on October 20, 2023, 02:56:27 PM

Quote from: Solosanz on October 07, 2023, 05:33:43 AM

Flashback to few months ago, there was a whale sold his Bitcoins which he hold since 2017, it's a sign of bear market? look, is Bitcoin price keep declining since that news? nope. There's no correlation if a whale bought a lot Bitcoins, it has been predicted bull run will happen because of Bitcoin halving, not because of the whales.

https://crypto.news/ancient-bitcoin-whale-sells-all-his-coins-amounting-to-10-6m-profit/

Whales have nothing to do with the market trend as there's no anyone who can manipulate the market and makes the market bullish or bearish. If the market will seem to be bullish in a year or two, simply because bitcoin halving is happening and not because some big whales decide to buy a lot or sell a lot that becomes the basis of market trend.

And if we have to analyze the market well, we will know that bitcoin is not following any trend because it needs to be both bullish and bearish at a certain point. And i think there's no problem with that as whatever the price condition of bitcoin, people will see both opportunities whether its price becomes bearish or bullish.

Whales won’t be in such title iif they are not big enough to createa ‘wave’ with the market prices of cryptp. If they happened to make an action following a news, FOMO would follow to investors which will definitely create a trend bot not as large as with the actual bullrun. Bullrun and Bearish trends are determine by many factors and that includes events, volume, and demand. Also bitcoin follows a trend; if it doesn’t then its market price should be too volatile in our eyes. Volatility is innevitable simply because demand and supply are the main determinants of a market price and given that it changes often.A trend is just a combination of many things but we cannot put whales aside as contributors to support a demand and market price increase of cryptos.

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Quote from: Solosanz on October 07, 2023, 05:33:43 AM

Flashback to few months ago, there was a whale sold his Bitcoins which he hold since 2017, it's a sign of bear market? look, is Bitcoin price keep declining since that news? nope. There's no correlation if a whale bought a lot Bitcoins, it has been predicted bull run will happen because of Bitcoin halving, not because of the whales.

https://crypto.news/ancient-bitcoin-whale-sells-all-his-coins-amounting-to-10-6m-profit/

Whales have nothing to do with the market trend as there's no anyone who can manipulate the market and makes the market bullish or bearish. If the market will seem to be bullish in a year or two, simply because bitcoin halving is happening and not because some big whales decide to buy a lot or sell a lot that becomes the basis of market trend.

And if we have to analyze the market well, we will know that bitcoin is not following any trend because it needs to be both bullish and bearish at a certain point. And i think there's no problem with that as whatever the price condition of bitcoin, people will see both opportunities whether its price becomes bearish or bullish.

krishnaverma

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Quote from: JoyMarsha on October 18, 2023, 06:21:08 PM

Quote from: krishnaverma on October 07, 2023, 05:01:19 AM

Source
https://cryptotale.org/bitcoin-whales-accumulate-71155-btc-in-6-weeks-nearing-all-time-high/

They have accumulated 71555 btc in less than 6 weeks. Is this a sign of coming bull run now ?

Whales have accumulated other bitcoins as well, thus this shouldn't be the only one. Since the price of bitcoin was at a low price, there ought to be more whale accumulation than this.

All of this activity is meant to alert investors who are familiar with the crypto market to forthcoming events(halving season). In order to avoid running out of time, he or she should board the moving train now before it becomes late

This could be good time to invest for new investors. But the problem with most new investors ia that they invest when the market is at its peak. They are attracted by all the hype and news coming in TV when Bitcoin reaches all time high. And when the market corrects, they leave in loss and also tell bad things about crypto to their family as well.

Aanuoluwatofunmi

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Quote from: Honyek on October 18, 2023, 02:39:37 PM

l think anyone who accumulates bitcoin now especially for the purpose of long-term holding, will make good profit in the end of the bull run. This is probably towards the end of 2025 as has occurred in the previous ones. So, if anyone can, that is not a bad idea, although you have to monitor every step of bitcoin situation very well.

Perfectly right, bitcoin is still at the dip even till now that we are talking, $28,000 is very far from $68,000 all time high, which means we still have along way to go before we get to that, then before another journey begins on a ride to a new all time high after the halving event, there's more expectations on this and people are taking advantage on investing now to hodl against the future because of bull market.

JoyMarsha

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Quote from: krishnaverma on October 07, 2023, 05:01:19 AM

Source
https://cryptotale.org/bitcoin-whales-accumulate-71155-btc-in-6-weeks-nearing-all-time-high/

They have accumulated 71555 btc in less than 6 weeks. Is this a sign of coming bull run now ?

Whales have accumulated other bitcoins as well, thus this shouldn't be the only one. Since the price of bitcoin was at a low price, there ought to be more whale accumulation than this.

All of this activity is meant to alert investors who are familiar with the crypto market to forthcoming events(halving season). In order to avoid running out of time, he or she should board the moving train now before it becomes late

pixie85

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If I had 100m dollars lying around on a bank account, hit by 5% inflation tax each year, I'd really think of moving at least 10% of that to bitcoin. Eventually more whales will enter the market because, and here's the important part, BITCOIN IS USEFUL.

It's useful to people with heaps of money, to people in countries with high inflation, to nomads, who like to move a lot, to people who want to escape oppression or war, like migrants from Russia, Ukraine, now also Israel and Palestine.

I can see only one way for bitcoin in the long run and that's up and the accumulation is going to continue. It may take another 2 years before we see a new high but eventually we will.

mvdheuvel1983

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Quote from: krishnaverma on October 07, 2023, 05:01:19 AM

Source
https://cryptotale.org/bitcoin-whales-accumulate-71155-btc-in-6-weeks-nearing-all-time-high/

They have accumulated 71555 btc in less than 6 weeks. Is this a sign of coming bull run now ?

It is a sign of many things. Including:

Growing global awareness and adoption - There is a growing awareness of Bitcoin and people are seeing the rel life effect of holding and not holding bitcoin. They prefer the former.

Halving - People don't want to be on the "wrong" side of history during and after the event. They don't want any bitcoiner to say"I told you so" if they miss it.

It's a flex- If you are a Gen Z or millennial and don't have some bitcoins. You are almost looked at as old school. We know that is the last thing they want to be called.

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Quote from: Honyek on October 18, 2023, 02:39:37 PM

l think anyone who accumulates bitcoin now especially for the purpose of long-term holding, will make good profit in the end of the bull run. This is probably towards the end of 2025 as has occurred in the previous ones.

At this point, they don't have to put that into long term holding. Because they're all aware that the halving is coming and it's just going to take a not that long until we see the price of Bitcoin goes on high again. That's why they're accumulating because they know what's about to come and that's a good strategy from them because they've been into this before and they understand the cycles that are about to come.

Quote from: Honyek on October 18, 2023, 02:39:37 PM

So, if anyone can, that is not a bad idea, although you have to monitor every step of bitcoin situation very well.

It's not a bad idea to accumulate. What is terrible is when you know that you should have to but you never did any action because of the fear that's in your heart knowing that it is volatile. That's not a big issue because Bitcoin's volatility has been there for a very long time and it gets more volatile every time it halves and every time it gets more adoption from the regulations. What I just don't like with these stats, they look at these accumulation rates and at the same time the dumping rate that's closely being monitored by some software or profiles in X. It's not giving that positive thought to its followers but only fear thinking that the whales are dumping.

Honyek

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l think anyone who accumulates bitcoin now especially for the purpose of long-term holding, will make good profit in the end of the bull run. This is probably towards the end of 2025 as has occurred in the previous ones. So, if anyone can, that is not a bad idea, although you have to monitor every step of bitcoin situation very well.

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Quote from: Hamza2424 on October 18, 2023, 11:19:12 AM

According to the On-chain data analysis, we are in the early bull run but according to the sentimental analysis we are still moving in a confused range. 71K Bitcoins is a decent number and if take the timestamp into consideration as well it will reflect that not just a Bullish signal the traffic is already on the Bull rally.

OP it is that you've shared it here, but I think you could have made it more descriptive with some of your own comments, just a random suggestion.

30k is a crucial zone for the bitcoin and below that level is an accumulation zone for bitcoin in the long run like 3 to 5 year timestamp. The recent bitcoin spike trap a lot of long position and if this fake news was intentional then those people will try to liquidate those long position which will cause a correction to the market. And to create a panic to the market a straight 25% fall is very realistic to think of.

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Quote from: Odohu on October 07, 2023, 05:11:59 AM

Anyone who have been following will understand that now is the best time to buy. So, I am not surprised seeing that many people are taking advantage of the low price of Bitcoin now. Before the end of this year, I don't think we will see the price as low as it is now. Mt.Gox refund is the only one huddle left to overcome before we see all positive news for Bitcoin.

Anyone still doubting will have to rethink because next year is filled with so much positive news for Bitcoin.

The investors have start their planning invest in Bitcoin before halving time with potential will raise to higher price, have accumulated with bitcoin transaction volume depend on investors way accumulate or reinvesting in bitcoin prepare for close with halving. I don't think issues with Mt.Gox refund are trues because have been rumor more than last several years and this news try to make FUD and investor panic for selling their bitcoin.

Habit investment regarding close with halving, investor know and have experienced when almost close with halving bitcoin will up drastically and right now during on lower price become great opportunity filling their bracket for investing in bitcoin.

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Quote from: OgNasty on October 18, 2023, 11:36:07 AM

I’m not sure watching a few wallets is enough to say that accumulation is at an all time high and I don’t think the current price supports that statement.

On chain metrics are harder to manipulated but can be used by whales sometimes but I agree with you that it is not enough to conclude what will happen next based on on-chain metrics. Things can happen sooner or later than any prediction or forecast.

Quote

I also don’t think it’s necessarily a good thing for Bitcoin that the largest holders are getting larger. I suspect this will lead to a pump down the line though when those big wallets want to start earning back from their investment.

I believe the Pareto principle still works even with a decentralized cryptocurrency like Bitcoin but it would be correct if eliminate bitcoins of very early adopters or people who already lost it years ago.

We can not know how many Bitcoin lost and those coins belong to what wallets, addresses and all are estimations.

Pareto principle and Bitcoin owners
Bitcoin HODL waves.

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