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The emergence of crypto whales against the backdrop of rising prices of bitcoin

Oct 6, 2022
The emergence of crypto whales against the backdrop of rising prices of bitcoin
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According to online metrics, amid the rise in the price of BTC, crypto-kitties returned to the market, which made a number of large transactions. This could also affect the value of the digital asset.

Since the end of September, addresses with an average of 10,000 - 100,000 BTC coins have been able to return more than 45,000 BTC to their wallets in a week. Large coin holders have shown steady accumulation, which has previously been a rarity in the market.

Analysts note that even the bear market did not affect the number of bitcoin wallets. On the contrary, investors began to massively invest in cryptocurrency due to the unstable situation in the economy. More than 4.5 million new holders were noted during the year. It is possible that BTC will act as a protective asset in the context of inflation. It is possible that BTC will act as a protective asset in the context of inflation.

However, not all specialists note positive dynamics. For example, Peter Schiff emphasized that holding the price of bitcoin for the last time is an illusion of a sense of security.

As of October 6, 2022 at 11:00 a.m., the BTC price is holding at $20,185.

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