Whales actively buy BTC ahead of halving in May

Large Bitcoin holders or so-called “whales”, who own more than 1,000 coins, are actively accumulatingcryptocurrency. This is evidenced by the latest Glassnode service data.

The analysts' study said the accumulation has continued since the beginning of this year.

A sharp activation of “whales” occurred after “Black Thursday”, March 12, when Bitcoin fell to a yearly minimum (to $3,800). This is a very good sign for the industry, researchers say.

They also pay attention to the fact thatThe last time such increased activity of large Bitcoin holders was observed before the halving in July 2016 (halving the reward of Bitcoin miners). The accumulation continued from January to July, after which sales resumed.

The number of $BTC whales continues to grow, hitting 2-year highs — the last time we saw this many during an accumulation phase was in 2016.

This becomes interesting when we compare it with the last #Bitcoin halving.

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- glassnode (@glassnode) April 9, 2020

Glassnode introduced a graph that showsthat now there is a trend of four years ago. Accumulation has been increasing since January 2020. The volume of investments in BTC increased sharply during the rollbacks of the first cryptocurrency.

Experts believe that the “whales” are betting on the aggressive growth of the coin in the future, so they are investing in this asset now.

A Glassnode study notes:

«This trend [accumulation] implies,that despite the uncertain market environment, the “whales” are confident that now is the most convenient time to purchase BTC. They believe there is room for further growth».

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