It’s not so bad: whales hoglet Bitcoin

Recently in the media there is a lot of negative news about Bitcoin. It is called a pyramid scheme, and investors in this supposedly massively sell their stocks. This is not so. It is actually exactly the opposite – the whales do not sell the digital asset at such a low price. It is reported Bitcoinist.

Why you need to believe in HODL

A Twitter user under the nickname BambouClub published its own investigation of market conditions. He led variable “Bitcoin days destroyed” (BDD), which shows the current mood of investors. Now BDD indicates positive trends – more customers holdat coins and immediately sell them.

BDD started to plummet in January and is still decreasing up to this point. We can conclude that whales do not go to the market, selling the assets for beginners. On the contrary, they believe in HODL.

BDD is calculated based on the number of coins in a single transaction, which is multiplied by the time the “rest” of bitcoins. The longer the coins stay at the same address, the more it shows about the desire to holdit, rather than to sell. BambouClub rejects rumors of market manipulation.

For market manipulation by the whales need to move assets between the exchanges and their cold wallets. Now they do not.

Recall, the latest negative news concerned the hacking of the exchange Bithumb. Now Bitcoin is trading at $ 6150. For the past day, the cryptocurrency has lost almost 2.5 percent of value.

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