The world of Bitcoin has been in great turmoil for a few weeks.
The reasons for this ferment are manifold. On the one hand it emerged like many institutional investors are betting on Bitcoin and this clearly created a climate of trust and enthusiasm. Secondly, many technical analysts speak of strong technical reasons for thinking of a strong rise by the end of the year. There are those who speak of 100k and who even of 200k. And then there is the question of the whales. Whales are those who hold large amounts of Bitcoin. Well, it is known that for a week the whales have been in very strong agitation but recently it has really reached the top, in fact the whales have bought so much that by now they hold over 20% of all existing Bitcoins. Those who have between 100 and 1,000 BTC own 21% of all BTC. This data was disclosed by Santiment.
Why all this appetite?
This is the annual maximum. But what does all this concentration of Bitcoin mean? According to analysts, this is certainly a strong signal of volatility but also of considerable enthusiasm. Evidently the big owners of Bitcoin have the perception that cryptocurrency will have to go up a lot and this justifies these strong acquisitions. In fact, the companies that can read the data on the movements between cryptocurrencies are recording really strong whale activity and this new peak would be the definitive confirmation. that among the big ones there is a strong expectation of rises. We will also see why Bitcoins are always awaiting new regulatory developments especially in the United States.
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However, the authorities lately have been keen to emphasize that they do not want to discourage cryptocurrencies like China did, so it will probably be soft regulation.
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A new news that offers greater excitement to the crypto world.