I read it on news that as the price of bitcoin is getting closer to $70000, that new and old whales wallets are accumulating bitcoin at a speed which resembles July 2020 to January 2021 when bitcoin increased by 550%.
According to the news, what it means is that bull run is likely coming and that this is just the beginning of it. What you think about it? I think history can repeat itself.
Regardless of the season, new and old whales will find ways to accumulate vast amount of bitcoin. So even if bull run is here to come, that won't stop them from accumulating more bitcoin by trying to create some fuds that will affect the price and that's when they will take advantage and buy massive amount. According to the news, what it means is that bull run is likely coming and that this is just the beginning of it. What you think about it? I think history can repeat itself.
While those regular investors cannot relate to this, but big whales have their own ways on how they can take an edge in the market and buy bitcoin at a massive.
You are right, whales always try to accumulate bitcoin no matter what season we are in because they are the ones with money and they have different strategies than us. They are not like retail investors like us, we need to wait, determine the trend to buy...but they buy whenever they want.
A real-life example that we can easily see is MicroStrategy, they have been continuously buying bitcoin since the 2021 bull season until now, they hardly care about what bitcoin price is trading at. Likewise, Blackrock has been buying bitcoin since the bitcoin ETF was approved, they have never sold a single bitcoin.
Whales are buying more and more while we, the little shrimps, are selling bitcoin every day because of Fud.
