Cryptocurrency
Cointelegraph reports, “Major Bitcoin whales have not sold any BTC for up to 5 years, suggesting they are optimistic about the asset’s long-term prospects. “A large Bitcoin (BTC) whale holding 68,000 BTC ($523 million), has not moved the funds for more than five years and on-chain data shows other whales have similarly held onto their […]
Cointelegraph reports, “Major Bitcoin whales have not sold any BTC for up to 5 years, suggesting they are optimistic about the asset’s long-term prospects.
“A large Bitcoin (BTC) whale holding 68,000 BTC ($523 million), has not moved the funds for more than five years and on-chain data shows other whales have similarly held onto their BTC for 4.7 years on average.
“Although Bitcoin is the top ranked cryptocurrency on CoinMarketCap, whales holding on to the digital asset without selling for years does not protect BTC from a steep downtrend. On March 12, the price dropped to as low as $3,600 and many whales did not move their funds at the time.
“What the data shows, however, is that many whales are comfortable holding onto BTC despite the risk of a significant correction to the $3,000 to $4,000 multi-year support area. This paints an optimistic long-term trend for the cryptocurrency market and the patience of high net worth investors…”
