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BTC Whales Currently Mirroring The Market Of 2017

  • Over the past week, the leading crypto and its price action has been relatively volatile. 
  • Looking to the 15th of June, the digital asset sale below $9000 just as the United States stock market also sunk. 

Over the past week, the leading cryptocurrency and its price action has been relatively volatile. Looking to the 15th of June earlier this week, the digital asset sale below $9000 just as the United States stock market also sunk. Even though it quickly rose above this $9000 key resistance level but a few hours later, the volatility is still very much real within the industry.

There is a significant trend that is standing out from the crowd though and that is that the number of bitcoin addresses with huge holdings I’ve been growing over the past few months. The last time the current number of bitcoin whales were seen was in 2017, just before the leading cryptocurrency spiked to its all-time high of $20,000.

Most of 2020, the leading digital as it has been below the $10,000 key resistance level but many large investors in the asset have still got confidence that it will gradually be growing and adding to their positions.

Bitcoin whales have a big role to play within the markets. For many traders, a big well population is a sign of a healthy crypto asset as it indicates that the well-financed investors are more confident about the future for the leading crypto coin.

But who knows where the leading cryptocurrency will be in a week’s time. It changes all the time so it is hard to determine where it will be in the future.

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