Bitcoin Whales (BTC) Are Extinct! What's Going On? - Kakiforex.com - Financial Market Media No. 1 in the World Bitcoin Whales (BTC) Are Extinct! What's Going On? Bitcoin Whales (BTC) Are Extinct! What's Going On?
InstaForex

August 6, 2021

Bitcoin Whales (BTC) Are Extinct! What's Going On?

 Analyst Willy Woo came forward to reveal the largest number of whales or humpback whales Bitcoin (BTC) that recorded entity holdings of 10,000 Bitcoins or more began to record a clear decline in recent times.


Clearly the individual, the decline in the number of groups stems from when they sold large amounts of BTC to small investors since 2012.


While the sell -off showed bearish sentiment for some, Woo explained it was a good move for BTC’s long -term performance:


"Of course it's a good sign. They do it for the sake of decentralization. Everywhere you can see these people selling or buying BTC. And if you’re interested in Bitcoin from 763 microns to $ 42,000 over 12 years, of course you’re interested in whales reducing their holdings and more people owning it. ”



Woo also shared about the group that is starting to emerge in this market. He described this group as playing an important role in the current market cycle:


“There is an increase in the number of people who own more than 100 BTC or known as dolphin sharks. These are private wealth management firms and hedge funds. The majority of humpback whales' assets are bought by them. ”


The sharing from Woo shows the distribution of BTC assets in this network is going well with equal distribution. He clearly demonstrates the concept of decentralized ownership.


At the time of writing, BTC is trading at $ 40,550.56, up 3% in 24 hours.