The 65% drop in the bitcoin price has “fattened whales” even more

The 65% drop in the bitcoin price has “fattened whales” even more

Last year, the bitcoin had a phenomenal increase of up to $ 19600 per chip in mid-December. The drop of bitcoin was just as phenomenal. The price in the last few weeks has fallen to a minimum of $ 5900 in the meantime on February 5, losing 65% of value over a short period of time. The drop has made many traders dust, but the richest bitcoin holders have gathered thousands of bitcoins if they took advantage of these significant price variations.

Bitcoin balls use price pendulums to get rich

Bitcoin enthusiasts understand that coins often fluctuate. In recent years, many have taken advantage of these pendulums. If a trader manages to guess the tip and sell his bitcoons, then follows the maneuver by buying at the minimum, then he can win many more coins. A certain group of bitcoin holders have been able to take advantage of these benefits several times. They are the top 100 bitcoin whales. Individuals or groups of people who are labeled as “bitcoin whales” hold large sums of bitcoin and can use them to “move the market.” According to the data collected by, most of the top 100 bitcoin addresses did not lose money at the 65% drop. In fact, their bitcoin stocks have increased exponentially.

The richest addresses have earned large amounts of bitcoin since 2016 so far
Let’s take one of the richest Bitcoin addresses that now holds 167,000 coins. The wallet began collecting the BTC about two years ago, when the address had its first $ 840 deposit in bitcoin. Now it is worth $ 1.4 billion. The holder has added thousands of chips since the address was created. This whale succeeded in gathering many bitches of each meteoric rise, but also in lowering the bitterness it usually follows. In 2017, we had six major market corrections when the bitcoin lost 30% or more of the price. Each time, the whale won even more funds.

Whale tracking and plot of speculators

Many of the richest bitcoin addresses besides wallets that have been inactive for years follow the same steps. These whales have been able to accumulate more bitcoins because they have caught the highs and mines at the perfect time. If we look at the top 100 top addresses, many have sold thousands of bitcoins between November and December last year. Bitcoins have given more whales and conversations are always on Twitter about these people who influence the market at massive increases and downsides.

For example, on November 12 when the price peaked, spectators saw that 25,000 Bitcoins were sent to the Bitfinex exchange.

The most affluent bitcoiners have long been subject to controversy. The mainstream press assumes that 1000 addresses hold more than 40% of the market. Some speculators even believe that these whales get in touch with each other, which leads to huge moves on the market. Kyle Samani, administrative partner at Multicoin Capital, believes in this theory.

I think there are a few hundred individuals. Probably they can contact each other and probably have.

Data collected from the richest addresses shows that money distribution fails every time

A report released last fall shows that the assumption that 1000 people hold 40% of the market is false. According to data collected by Bambou Clup, many distribution models we now have for bitcoin and analyzing wallets usually fail. Bambou Club concludes that the problem with most estimates is that they fail to recognize the relationship between the owner, the wallet and the address. “It’s not a parallel of 1: 1: 1,” explains the report.

That is, by definition, it is not true that a person has a wallet that uses a single bitcoin address,” says the Bambou Club analysis.

For starters, a person could have multiple bitcoin wallets. And a wallet can use many addresses. Yes, it is recommended that you generate a new address every time you use a wallet to ensure anonymity.

Bitcoin distribution data shows that those who have 16 bitcoins are in the “1%” category.

Using different data collection methods, Bambou Club analyzes the global distribution of bitcoins. According to the study, there are more than 25 million bitcoin holders, and you do not need more than 0.153 BTC to be in the top of the most influential bitcoiners. By the way, with 0.153 bitcoins you are already in the first 30% of influential people. Moreover, you do not need more than 15 bitcoins to be at the top, in the first 1%.

It is very true that the whales continue to accumulate bitcoins. But the mainstream press made a fantastic portrait for the first 1% if we take this analysis method. We do not know if whales work together to manipulate the market. We know, however, that market fluctuations, and especially the 70% bitcoin drop, have enriched many.

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