Topic: Bitcoin accumulation at all time high - page 4. (Read 536 times)

Actually, the best time to buy was yesterday. Now it's the second best time.

But there is one thing about the news that I don't understand. It talks about "wallets".



I don't know if the people who use these wallets reuse addresses or how they can identify that several addresses belong to the same wallet, because if I receive bitcoins and in each transaction I create a different address they will not be able to know that they are part of the same wallet. Or maybe they mean "addresses" when they talk about wallets, and people reuse them as we do when we receive payments from signature campaigns.

Reminder: Bitcoin whales are people with huge amounts of money, they're not people who have magic crystal balls. You people really need to stop over-glorifying whales as if they never get things wrong from time to time and that they have total control over markets.

This is not the first time that we have heard such news about whales buying huge amount of bitcoin within a short period of time. The address might belong to an institution of an individual, nobody knows. From what I understand, I believe that the person is taking advantage of the market now that the prices is 27k+ to buy as much as he can, so that he can prepare for the next bull run because the halving is in the next 6 months and some days. I believe that this is the best time to buy now that bitcoin is in its consolidation price, and that is why whales are taking advantage of the market to stack up their bags. It might be that the person might not even sell those coins during the next bull run but just might be using bitcoin as a store of value.

also to note when people deposit BTC into an exchange. it doesnt mean they will sell for fiat to cause a price change of bitcoin price. they may trade it for a altcoin, meaning not touching the btc-usd market order list

Possible and whoever started this whole narrative about whales accumulating, sending, receiving, and selling Bitcoin in bulk, they always get to track them without even verifying if they've sold because it's hard to verify it even if it ends up on an exchange wallet. The thing with that is they'll just speculate that those balances are about to be sold. And with these "whales" accumulating or having more Bitcoin, the closest one that we can think of doing it are the none other than but exchanges.

for those unsure of the maths (using todays numbers, not the articles dates numbers)

[10 - 100)   4,460,738 BTC   
[100 - 1,000) 3,877,099 BTC   
[1,000 - 10,000) 4,696,672 BTC   $131,371,471,600
[10,000 - 100,000) 2,271,469 BTC

totalling up these amounts gets to ~15.3m btc hoarded in "whale addresses"
and they are saying this number is XXk more coins than 6 weeks ago

however this does not mean whales are privately hoarding in their own addresses it also means equally that lots of users of small amounts deposited funds into exchange hotwallets where users are about to sell

so in short the stats are meaningless.. it can equally mean:
whales are privately hoarding away from exchanges to not sell meaning less exchange supply
or users have deposited into exchanges(exchanges are treated as whales too) where users are ready to sell

if the stats showed that many small sub 10btc addresses had more addresses, then it shows many new users buying small amounts are then withdrawing from exchanges, thus diluting exchange supply

however by funds collating and accumilating more into large lumps above 10btc allotments, it "could" be a sign that many exchange deposits are happening ready to sell

the stats are meaningless because they 15.3m coins which they say has risen over 6weeks by xxk coins.. has alot of exchange wallets included, its not really a list of holdings totals of just non-exchange addresses

the whales may be preparing for the Bitcoin halving. or they really have experience in the previous moment and they want to repeat it again.
Bitcoin price movements may not be too big with this news. In fact, we still see this happening regularly. not an event that quickly created a pump in the market.

what happens if they end up selling fast when Bitcoin makes a pump in a short time? in large quantities maybe it will affect market prices, but it won't take too long for prices to improve.

You must have missed the news from Mt.gox, in their most recent announcement they continued to delay compensation to victims for another year.  this means we will have new announcements from Mt.gox from September 2024, so there will be nothing to fix here.  but I believe that even if they compensated everyone, those bitcoins would not have any serious impact on the market.  because as OP mentioned, many people are quietly buying large amounts of bitcoin during this time so if someone sells cheap bitcoins there will always be buyers regardless of quantity.

No that doesn't indicate anything, they are just buying then hope for the best on their investment and they announce it  to create hype since it will be beneficial to them if more people will look forward on actions they do and they even want to make you feel like bull run is coming so that they can take their position and be the first to sell when there huge movement will happen.

Remember that next year is halving season so I guess on that time we should prepare since we might fall unto manipulators trap if we believe on early manipulation made by them. But if you know how to deal with the risk then its good to ride with the flow they made but we need to follow the updates so that we will not left behind if suddenly they announce that they dump it or manipulate the market.

I still don't buy into this whole crypto whale narrative. These are different Bitcoin addresses that may belong to all sorts of entities, right? Maybe it's major companies relocating funds into cold wallets, maybe it's some companies trying to reorganize their finances. Some of them can belong to individuals, sure, but that doesn't mean to me that there's actually any consolidation between major holders, that 'whales' act for similar reasons and have similar intentions. I really think it doesn't mean anything.

I hope that will be the better news for the bitcoin holders, A long time ago there was a bull run, and everyone is waiting for the bull run to take part in their best trading pairs.

From this news, a way to buy the bitcoin at this stage, because it is very low now. Probably by the end of the year 2024, it will cross $50k again, as it was before. So, that would be a positive sign for the bitcoin, and for a bull run to come. And also many traders are still waiting for bitcoin to go below $18k and then they want to buy it, I don't even think it will go below $20k again, as this is crypto so we can assume everything can happen.

Some people will be waiting, thinking the price of bitcoin may fall. Even if bitcoin fall to $20000, those kind of people may still be waiting for the price to fall to $15000. It is better to buy now becuase bitcoin is going all-time-high. And bitcoin halving is getting closer everyday. You know what bitcoin halving is and how people are sentimental and buying bitcoin after halving which later lead to skyrocketed price. I do not think this is bull run for now, the price of bitcoin may still fall or not. But with doubts like this, it is good to DCA.

Probably they're just buying because they have the means to. These whales will want to dominate the market ad much as possible and i will not tie their action as a sign of the next bull run. Sheesh, the Bitcoin halving event is like a prophecy that's bound to be fulfilled and just like @Odohu pointed, any investor who believes in the prospects Bitcoin holds will want to take advantage of the low price now. I mean,who would want to miss out on the Bitcoin train?

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 are showing confidence and it translates to good time for crypto most of the times.

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. 

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 ?