Not everything has been getting bad in this bear market, this bear market also was the very reason for the development of some very good trend for Bitcoin and all of Crypto that will especially bode well for longterm perspective of Crypto. You can sum it up as the Redistribution of Crypto. The wealth in Crypto is going to the Retail right now and leaving Whales meanwhile. Basically you can divide the entities holding Bitcoin in two groups. The retail and the whales. We are being called the retail here (or I at least think that most here are from Retail), as we all probably have something below 10 BTC and the majority below 1 BTC. Whales are entities that own over 1000 BTC. Chart from Glassnode and by James V.Straten on Twitter Here we can see that even though both groups have been equally expanding since the 2018 bear market, we have now reached a turning point where Whales seem to be losing the game in our advantage and it is an even bigger surprise that this is happening in a bear market. Whales have dropped from a peak of nearly 10M BTC in May 2021 to now 9M BTC and the FTX crash has accounted for 40% of that decrease. This does not have any clear impact on the price nor does it mean that Retail is more powerful than Whales right now as they still own 3x our supply but IT IS a good trend that will be even better if it stays for the future. [link] [comments] |
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