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.
I'd rather not speculate on whether or not history repeats itself, but simply have a look at the fundamentals and how Bitcoin is perceived by various actors in public. Talking about 2020 to 2021, that was still a time when Bitcoin got bashed by most politicians, now it gets embraced at least seemingly or they pretend to embrace it. I am particularly talking about the US politicians here, but in other countries as well. Bitcoin is not the rat poison anymore that it was once said to be. Some people would still like to get rid of it, but by now understood that there is no getting rid of it.
Your analysis or assumption could be true, could not be true. I would rather stick to my guns here and come up with my own assessment, which is not so much focused on the timeframe, but on the yes or no. Will Bitcoin go up? Very likely yes. Does it matter when? Not so much.