Large investors continuously increase their BTC stocks

Since January 2020, there has been a steady increase in the purchasing activity of “bitcoin whales” or largecryptocurrency holders. This dominant trend was pointed out by well-known analyst Willy Wu.

On Twitter, he posted a post in whichpresented a schedule of activation of the "whales" who bought up bitcoins even during the COVID-19 pandemic. The expert clarified that he uses the data from the Glassnode service, and “whales” are players who own 1000 or more BTC.

#whalebreedingseason Whale population spotted increasing in the wild. They've been in solid accumulation mode since January unperturbed by the COVID crash. This is macro bullish.

Whales are entities holding 1000 BTC +, data by @glassnode pic.twitter.com/6HLFapIfNe

- Willy Woo (@woonomic) May 6, 2020

Such dynamics will inevitably lead to the largest cryptocurrency to take on new heights, Wu is sure. In addition to the “whales”, from the beginning of the year, retail investors are also involved in accumulation.

In April, Glassnode analysts released a report,which said that since mid-March, user activity has sharply increased in the Bitcoin network. The number of addresses that often perform operations in a month soared from 6,000 to 17,000.

The number of transactions on the BTC platform is growing in anticipation of a reduction in the reward of miners (halving), the researchers say.

In parallel, there is an increase inbitcoin miners. According to Messari, since mid-March, the BTC hashrate has increased by 25% and reached a level of 150 EH/s. Experts predict that online computing power will increase in the coming days.

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