True, the Bitcoin rate and crypto prices are falling. However, the blockchain researchers from Santiment have now noticed a bullish development quasi “behind the scenes”: Bitcoin is bought intensively – and the number of BTC whales is growing continuously.

Buy BTC on eToro now

Addresses of the “millionaire class” are becoming more and more

After a small upward correction, the Bitcoin price failed again yesterday at $ 33,000. BTC began a decline below $ 32,000, eventually plummeting to $ 31,600, where it is currently trading.

While many consider Bitcoin’s price action to be bearish, there is some evidence that the markets are still alive and well. The researchers of the blockchain data provider Santiment, for example, are currently commenting on this. They write:

Bitcoin may have dropped to $31.5 k on Thursday, but the “millionaire class” of addresses holding between $100 and $ 10,000 BTC continues to rise. The cumulative amount of stocks for these whales has increased by $100,000 BTC since May 21st.“

Or simply put: More and more BTC whales are taking advantage of the price drop to increase their Bitcoin holdings and buy coins. Santimentâ s analysis coincides with the statements of several other blockchain experts, such as Willy Woo or William Clemente. Both do not tire of emphasizing that crypto markets are currently in a bull market regardless of price action. Woo is convinced that Bitcoin is in “re-accumulation mode” – and once this accumulation is completed, Bitcoin will rise to $ 157,000, according to the forecast of his model.

Trader: “Don’t miss this opportunity”

A similarly positive development for the rest of 2021 awaits the pseudonymous crypto trader Kaleo. He has compared the Bitcoin charts from last year and this year and notes some similarities.

Kaleo writes to his more than 333,000 Twitter followers: Even in July 2020, Bitcoin looked very modest – but right after that, the price exploded. He admits that it doesn’t necessarily have to happen again – but the story often rhymes after all.

Home:

“Just a reminder: a year ago, everyone thought that BTC also looks terrible. The most sensible thing to do was to take the profit before it crashed back below $6,000, even though the technology industry was on the rise.

It didn’t take long for the narrative to change.”

Kaleo shows a chart on which it becomes clear: From July 9 to July 20, 2020, Bitcoin really looked terrible – but subsequently rose to its new all-time high of around $ 65,000. trader:

“The chart looked terrible, especially from July 9 to 20. From then on it went vertically upwards.”

For Kaleo is therefore clear:

“So, as I said before and as I will continue to say-keep buying.

Do not miss this opportunity.“

Buy BTC on eToro now

Last updated on July 16, 2021

Top Brokers for buying and trading cryptocurrencies

  • Buy Real Bitcoin or Bitcoin CFDs
  • Wallet and Exchange in one
  • 14 + Cryptos
  • EU regulated
  • Over 40 cryptos on offer
  • Fees rather in the midfield

Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.