Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
This is very interesting comparison of bitcoin price verses addresses holding more then 10k$ worth of bitcoin.
You can see when price of bitcoin touched 69k$ on 11 Nov 2021, the addresses have gone done. That means Whales were in selling mood at that time. Now as price has gone down, whales are once again accumulating bitcoins.
Key Takeaway: whales are called whales because of this reason.
My few satoshis that I extracted from this graph.
Image source
You can see when price of bitcoin touched 69k$ on 11 Nov 2021, the addresses have gone done. That means Whales were in selling mood at that time. Now as price has gone down, whales are once again accumulating bitcoins.
Key Takeaway: whales are called whales because of this reason.
My few satoshis that I extracted from this graph.
Image source
You and the twitter guy both seem to misinterpret the graph.
It is not the graph of people with more than $10K in a wallet, it is a graph of wallets with more than 10K bitcoin.
Naturally, as the total number of bitcoin got mined from 0% to 90%, the number of such wallets should rise in the graph just like that.
Additionally, one can conclude that large whales were selling/distributing bitcoin since 2016. their pie is melting, which is a natural progreassion as well, correlating with an exponential increase in wallets containing 0.1-1 btc (shown in prior discussions and here: https://coingape.com/retail-bitcoin-holders-with-balance-0-01-0-1-btc-reaches-new-high/)