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The number of Bitcoin whales increased after halving

June 19, 2020

Bitcoin (BTC) investors see 2020 as a great accumulation opportunityaccording to the latest data.

Statistics from Glassnode’s on-chain monitoring resource show this The BTC price promotion in June brings out even more new whales.

Bitcoin whales have increased by 2% since halving

When analyzing the number of companies with 1,000 BTC or more, an increase of approximately 1.5% was recorded in May and June.

The number of Bitcoin whales increased after halvingThe number of Bitcoin whales increased after halving

The number of whales, as defined in this metric, is now 1,840;; It rose sharply in the week after halving last month.

Bitcoin whale entities 2 month chart

Two months Bitcoin Whale Chart. Source: Glassnode

In addition, Glassnode’s “Net Position Change” chart shows this From the first 170 days of 2020, Bitcoin investors gathered on 154 of these days.

Despite the big price differences The mood among long-term investors clearly indicates a desire to save, not to trade or to issue their currencies. The net increase in their positions is around 233,000 BTC.

Bitcoin Hodler net position change year to date chart

The graph of the change in the net position of Bitcoin investors from year to year. Source: Glassnode

“Long-term upward trend”

The trend corresponds to other investor data previously reported by Cointelegraph. Certain, Despite the price volatility this year, more than 60% of the Bitcoin offer remained stationary.

The majority of the offer did not move for over a year, a phenomenon that started in December 2019 and has continued.

“”Long-term upward trend for Bitcoin“summarized the monitoring resource partner Double u about the number of whales.

end of May One analyst even went so far as to claim that Bitcoin’s “accumulation phase” had lasted much longer, from the record highs of $ 20,000 in December 2017.

However, The short-term price trend seems to worry some. Stocks started rising this week after a long downtrend in line with volatility, causing Bitcoin to briefly drop below $ 9,000.