The price of Bitcoin and all altcoins has been stuck in a certain price range since May 19, 2021. Just as it could not exceed $40K, it could no longer exceed $35K. Cryptocurrency markets have been very sluggish for the past few weeks, with trading volume at the bottom. Therefore, the morale of the small investor continues to deteriorate. This compression process in the narrow area persists. Bitcoin is not allowed to go above $40K, but it cannot go down to $20K.
The general picture is like this… Bitcoin purchases have almost come to a standstill. But on the other hand, we witness that large-scale investors, known as “whales”, are constantly buying at these prices. There was some news recently. Bitcoin whales are still buying BTC despite this ‘dark cloud’ environment and the whales had the highest purchase in a single day with 60,000 Bitcoin purchases. On-chain data analytics company Santiment reported that whales bought 60,000 BTC in one day, the largest daily accumulation this year. You can read the entire article at this link.
So what is the purpose and goal of Bitcoin whales? To lower the price even more? For example, lowering it to $28K and then below $20,000? They want this very much, because if they succeed, they will collect Bitcoin at a very cheap price. This is called accumulation in the financial world. Whales are currently accumulating, accumulating Bitcoin.
Well, will it always be like this? Will we never see the $40,000 and $58k levels again? Analysts predict that we will return to those levels in the next two months. After the whales stop buying Bitcoin, the price of Bitcoin will regain its freedom and enter an upward trend again. That’s when the small investor who hears the news of “Bitcointerrar is rising again” will start buying at a higher price than today. As the purchases accelerate, the Bitcoin price will start to increase parabolicly. So, who will sell Bitcoins at a high price to the small investor? Of course, Bitcoin whales… Things have been going this way in the financial industry for 100 years. It will continue to spin like this from now on.
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