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![]() Bitcoin rate may go up to the new heights because whales don't sell yet ![]() 01.Nov.21 4:52 PM By Abigail Richards Photo Pinterest |
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Not long ago bitcoin (BTC) finally managed to put down a new all-time high after months. The euphoria in the market was great and it seems that big players in the crypto market were not satisfied with this yet. Profit is only taken sparingly and whales and bitcoin miners continue to expand their bitcoin positions. This is made clear in a report by the US crypto exchange Kraken. In their 'shock October' report, they state that on-chain data shows that large investors and miners have so far sold only a few of their bitcoins, or even accumulate further. The report also states that these developments are positive for the bitcoin rate in the coming months. The lack of a large-scale sale of these large investors and miners can cause a supply shock, according to Kraken's report. This will happen when there are simply too few bitcoins for sale. Because demand is significantly higher than supply, this can do the price of the largest cryptocurrency quite well.
Whale behaviour predicts another rally, long-term holders hold the line
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