Where Did All the Bitcoin Go?
TL;DR
There’s a ‘quiet accumulation’ of Bitcoin taking place, and it’s worth getting excited about!
The accumulation is ‘quiet’ because whoever is buying, is doing so in smaller chunks, over a longer time frame, being careful not to pump prices.
Plus: the wallets that are buying this Bitcoin are ‘illiquid.’ Meaning they very rarely sell (if at all) - so there’s a good chance they’ll hold all of this BTC for a hot minute.
And lowered supply + increased demand, typically leads to increased prices.
The increase in demand might be a ways off yet, but either way - it's a vote of long-term confidence from some deep pocketed investors.
Full Story
Did you ever secretly practice Super Smash Bros, so you could open an unexpected can of whoop-ass on your cousin Darrel at the next family do?
…no? Just us?
Ok, well, just like we quietly accumulated the hours of practice needed to wipe that smug grin off cousin Darrel’s face - there’s a ‘quiet accumulation’ of Bitcoin taking place, and it’s worth getting excited about!
Let's dive in and answer the following questions:
What makes it ‘quiet’?
Why should I care about it?
And, don't you think you were a little heavy handed with the whole Darrel situation?
First up: no, Darrel was a 30 year old man, who referred to himself as 'The Smash Bro Bad Boy' - he had it coming.
...as for the rest of it:
The accumulation is ‘quiet’ because whoever is buying, is doing so in smaller chunks, over a longer time frame.
Too many large 'buy' orders in quick succession can push the price up.
Whoever is accumulating is being careful not to pump prices.
As for why you should care…
The wallets that are buying up all this Bitcoin are ‘illiquid.’
Meaning they very rarely sell (if at all) - so there’s a good chance that all of the BTC they're buying will not be sold again anytime soon.
(Lowered supply + increased demand, typically leads to increased prices).
The increase in demand might be a ways off yet, but either way - it's a vote of long-term confidence from some deep pocketed investors.
We love to see it!