What was the reason for the growth of Bitcoin from the beginning? The response of analysts

Whales in the stock market is often portrayed in a bad light. In the opinion of investors-lovers, the big players are responsible for all the manipulation and the troubles which have happened with the trading accounts of inexperienced traders. However, whales also have a positive effect on the industry. At least this is stated in a new report the analysts Diar.

Why is the Bitcoin?

Most of the responsibility lies on those whose wallets have at least 1000 BTC. At such locations is more than 26 percent of all bitcoins in circulation. Analysts have compared this figure with the August 2018 — by the way, then Bitcoin is also traded approximately at the level of $ 8,000. At that time, the whales held six percent less coins.

It is noteworthy that the peak of accumulation of BTC occurred in December, when the cryptocurrency has found its local bottom in the area of 3100 dollars. In other words, large investors have acquired a huge number of bitcoins just before the beginning of bullrun. Their condition is cumulatively increased by at least $ 6 billion.

Source: Coingape

Almost 40 percent of the mined bitcoins in 2019 went to the above address. With some delay smaller purses — from 0 to 100 BTC — picked the trend and also began to buy up the crypt. However, they had little impact on the market, so that the “fault” for bullrun still lies on the pillars.

In the end, analysts have concluded that the massive accumulation of Bitcoin has become one of the key reasons for the growth of a digital asset from 3100 $ to a new yearly high. Despite all the propaganda against BTC, cryptocurrency is still of interest to people with large deposits. Perhaps we should follow their example?

Even more interesting looking at cryptodata of hontarov. Also don’t forget to visit mining pool 2Miners — digging coins it is possible in PPLNS and SOLO.

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