Cryptocurrency investors had a quite ruff summer as markets didn’t resurged as expected. Despite this fact Top 100 Bitcoin holders weren’t so negative, vice versa- they bought more.
Let’s get into numbers
According to bitinfocharts this is how Bitcoin whales balances performed in last 30 days:
7 whales sold (-23 251 BTC);
15 whales increased in balance (+88 023 BTC);
78 whales balance didn’t changed.
It means 93% of Bitcoin holders supports HODL strategy, which is a positive sign at a current stage.
Number one on the list with balance of 226,205 BTC ($1,451,115,572 USD) Bitcoins is Bitfinex cold wallet. They increased they balance by additionally depositing 39 328 BTC in last 30 days.
- Let me remind you that cryptocurrency market is young and it takes time to form it in any possible stable and more safe way. It will always be big gains and big downs until more and more experienced investors and traders join the markets.
- Since old times one thing in trading never changed – EMOTIONS. This is what trading is. So at least time to time try to focus not on FUD or NEWS, but on coin YOU BOUGHT and it’s fundamentic aspects. Believe in what you bought or do not buy at all. Also have in mind, that patterns and charts often has different life and are not connected with any news. I personally know some very successful crypto traders who doesn’t read any news. They use only TA and indicators.
- People becomes tired of third-party services and wants more independency. Cryptocurrency solves it all so just be patient, we will get there thanks to Blockchain & Cryptocurrency. You will see.
- You do not lose until you sell. So just think twice before doing that. Example – guy sold a flat for $100 000 and invested in BTC (bought at $19 000). BTC price fallen to $8000 he scared and sold ‘to save any left money’. He lost over $50 000 just by making not a smart move. AGAIN- BELIEVE IN TECHNOLOGY AND IN LONG-TERM ONLY. So if you sold a flat for BTC – only consider selling BTC you bought AFTER 1 YEAR OR MORE.
Tired of volatile cryptomarkets? Read this: Why You Should Restrain from Checking Cryptocurrency Prices and Give it a Break
Don’t know what to expect from cryptocurrencies? Read this: Millennials Might Be the Reason US Equities and Housing Reaches Its Peak and Leads Cryptocurrency Markets to Resurgence