As Bitcoin Whales Are Taking Positions, Here Is What You Can Do

Whenever crypto whales begin to make moves in the market, it is often a subject of scrutiny. 

As the price of bitcoin showed a lift in recent weeks, it has become obvious that the big players are accumulating the wonder coin.

According to a market report, it is obvious that the move in the market in recent weeks is akin to what was seen in the last major bitcoin price rally of 2017.

Beyond that, fees collected by miners on bitcoin transactions have picked up of late that many people see that as significant.

Tracking Whale Movement

Why is it necessary to track whale movement?  A watcher of oceans can tell when the big whales are moving through the space as a result of their size. Same applies to the crypto market. 

There are bitcoin wallets that are known to accumulate the wonder coin by the numbers.

The good thing is that this is noticeable by anyone who pays attention to the bitcoin blockchain explorer. So, what does the accumulation mean?

1.       A Price Leap is Coming

When institutional investors start mopping up a company stock, it is a sign that they are expecting something big. Most times, it is when there are signals indicating that an interim or final dividend is on the way.

So, for market watchers, it is the besttime to take a cue. This happens in markets around the world. If this is the case here, then what the crypto whales are doing indicates that they envisage a price leap.

2.       Any other Thing in the Offing?

Another reason why company stocks get mopped up is when there are subterranean moves to influence the ruling market price. This can be either way. First, a poor performing position for a company can mean a massive stock dump. If the market signals otherwise, many investors will keep the stock.

In the case of bitcoin, it does not yet look like there is any motivation to defend it anyways. It has seen a harsh and long winter with its price trading at about a third of its 2017 highs. At this time, it does look like the mopping up has a tangible reason beneath it.

What Will You Do?

You either join the whales and start racking up your balances or watch the space. If the whale movement is indicative of an eventual price leap, you would have missed the party. On the other hand, if it turns out as a fluke, you might as well have no worries.

For now, many traders want to be cautious and build up their wallet balances gradually in the hope that the crypto winter is finally over.


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