Bitcoin Forum

Recently, there has been a steady increase on the number of unique Bitcoin addresses that holds at least 1k BTC or more and this trend has been consistent for several months now, which started from the earlier period of 2019! As per news articles, most crypto observers had suggested the idea that its possible that big investors and institutions could be behind this trend where it seems they are possibly accumulating BTC under $10k price range.


To my understanding, I think this is a bullish sign for BTC, and whats more exciting is that this trend hasn't happened especially in the 2017 bull market! Kindly share with us your thoughts and ideas about this metric. :)

Sources: https://glassnode.com/
             https://cointelegraph.com/news/2-key-indicators-show-traders-are-accumulating-bitcoin-under-10k
             https://cointelegraph.com/news/growth-of-btc-millionaires-now-matches-bitcoins-early-years-new-data

More institutional investors and big whales coming in the market? Yes. 100 percent proof this is bullish and means BTC will go to the moon? No, unfortunately.

Keep in mind if any one of these addresses wanted to crash and dump the market, they could definetly, and it'll likely cause a snowball effect and ruin everything.

Big investment is always interesting. I'm more interested about what companies are getting into the scene because it means more adoption.

Well, these indicators may hold some truth. However, for as long as the candles are red in blood, there is no huge accumulation happening. The price movement of Bitcoin is still directed downward. It does not reflect accumulation at all. It reflects selling more than buying.

There are several possibilities than could be deduced from this. This might only mean some whales are breaking down their huge BTC holdings into smaller portions and saved them in different wallets for safekeeping.

Bullish in the future? yes.

Actually I am not confidently rely on this factor, wallet addresses ain't no indicator of a bullish market since anyone can own more than 1 wallet.
If whales are thinking of minimizing the risk while holding, they will certainly think of spreading their bitcoins in different wallets, so that's the possibility i'm seeing in this news.

That doesn't really make much sense. Do you think there weren't any people who dumped 1000 btc at once? It happened hundreds of times before. See the chart it happened when btc hit $20k. Did btc die? No. It will happen again when we see another ATH. Some people will eventually want to cash out.

But they don't actually do something like this. Whales prefer to stay low key, they don't usually make a move which is something that will notice everyone.
It's too early to make an assumption, we can say that this may be a sign but its really hard to say as of now. We can just think that whales are now making a move for the possible things to happen whether it is positive or a negative one.

What bullish sign? If I have 10 000 BTC and I split them to 10 different addresses each containing 1000BTC what a positive effect this has on anything? By this article, there are 3070 addresses with 1000+ BTC, but they only represent 0.01% of total Bitcoin, a rather negligible figure. And it is publicly known that most of such addresses belong to crypto exchanges, so how can that be an indicator for anything?

Nice PR for that company mentioned in OP directly and in both news links, nothing more than that.

It looks like the accumulation and holding of Bitcoins. The price is good enough to purchase large volumes now but nothing more will happen i think.

A lot of indications is happening right now, we even have a halving coming up it's going to happen next year, but all the indication and are not converting to what should happen right now, we should be enjoying right now because this should be the time that we are moving to another milestone, but unfortunately it's not happening, we will have to wait before the start of the year before all these materialize.

This is just another marker on the road of progress!

Although I wish I had been around when bitcoin when 1k Bitcoin was worth 10 cents or a few hours of hash power.

Dor sure those accounts are either big money or the divided acounts of even bigger money. great for them!

I also wish the best for all of you!

Sorry, bad wording. I don't mean die, as in the coin flops and people lose all interest in it, I mean the market crashes and the price snowballs down. We saw this with what happened with the the price when it reached 20,000, like you said.
This is another point I was trying to get across - just because there are wallet with a lot of money it doesn't mean that they are new players. Could just be someone shuffling funds.

a few points
1. having 1000 addresses of 2002 coins or 2000 addresses of 1001 coins = same total coins hoarded
2. if instead of 500 people with 2btc hoard it themselves, they deposit it into an exchange its still 1000coins. split or not
3. also if an exchange(main purpose of whale hoards) suddenly has more coins its cold walleting. this is a sign people are putting more coin into an exchange, looking to sell soon.

yep thats right exchanges holding more coins = approaching a higher risk of sell-off happening
yep thats right when an exchange breaks up their cold wallet and pays out to individuals = less hoards. = less coins on exchange = less supply = price rise as there are less sellers because there are less coins to sell

There are no direct relations. Having more people save 1k of coins is not the same as having 1k people pumping the coin every day, but some people think it's a sign that a lot of people are now considering to hold a lot of bitcoin. Which means, more people consider it as a valuable thing.

This is a great insight that you shared with us and I thank you. The data could tell us that there is a possibility that something big will happen in the coming months. I am in line with the though that big corporations, insitutions are now entering bitcoin in preparation for something big. In my opinion this is in relation to the current economic war between the United States of America and China. As we all know to prevent economic losses and economic breakdown President Trump has to lessen interest on dollar loans. This means that big figures are threatened of the possible economic breakdown of USA and is buying bitcoin as insurance.

Hope this is true. and not owned by few people who are trying to "decentralized" their bitcoins".

Millions of people buying 1btc or more is definitely good for the health of Bitcoin.
There has to be lots of people buying that amount of Bitcoin for it to have a reasonable effect on the price of Bitcoin

I think those 3070 addresses mentioned on that article didn't clarify that it represents just 0.01 percent of the total Bitcoin addresses and not on the total Bitcoin supply. In fact, as per data from https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html , those addresses that holds 1k BTC or more are comprised of only 2,166 addresses which is inconsistent on what the article had previously stated.

Moreover, those addresses which have of a consolidated total of about 7,530,271 BTC, is roughly 41.86 percent of the total BTC supply including those BTC on the top 4 addresses which are presumed belonging to exchanges.

Interestingly, those addresses which holds BTC in 1k - 10k range accounts for about 26.7 percent of the total BTC supply but I guess I must admit that its too early to assert if we are indeed in a bullish period right now considering there could many factors that have caused this surge in BTC addresses that are holding more than 1k BTC although I hope I'm correct on my assumption that indeed were starting in a bullish phase right now. Imho. :)

https://i.postimg.cc/htBrkF29/Bitcoin-Distribution.png

Source: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

This is the spike the OP is talking about. Sure, it could be coincidence or "more rich people chopping up their vast amounts into several addresses." Hmmm, many Bitcoin holders are truly aware of good security practices, I guess the space has matured.

https://i.imgur.com/SwvEf26.png

It can be a big yes and a big no for a reason. First, a big yes when the accumulation of huge volume of bitcoin encourages the small investors to engage in cryptocurrency. And the big no is when volume will be controlled by few people, not considering the fact that there's still small investors in the market. A big no, when the small traders will be taken off by the increasingly number of newly classified whales entering the market.

There is can be yes or no.
Yes they with buying some Bitcoin, especially with 1k amount of Btc that will support the price to bullish.
But there is a problem, if a whale suddenly trying to dumping more dip. They will take more BTC, then they maybe will control the Bitcoin. If they hold for long time, that is also bad for Bitcoin ecosystem, Bitcoin is created for transaction not for saving.

Yep, this is definitely a good sign, but let's not forget that we also want decentralization in the crypto world. We don't want all the BTCs concentrated on one man's wallet if possible. However it's a clear signal that big dogs are accumulating this asset and you we should expect more stop hunts created to engineer liquidity for themselves. Don't FOMO and don't be afraid of taking a risk because this is a very important moment in history. You will talk to your grand sons about the Bitcoin ascension  ;)

even if we ignored what people pointed out and assumed OP were correct then it still wouldn't be a bullish sign. it would only be a sign that the adoption is growing. we already knew that!
when it comes to price (being bullish or not) the market works a bit differently from how adoption works. surely adoption is the only reason it rises but it won't affect the price right away as the market still could be affected by more short term more powerful forces such as the fear that we see nowadays keeping the price below $10k.

I think this might be a bullish sign for price but in general I think this is pretty bad. It shows that how bitcoin has become unevenly distributed and the whales are once again getting more and more. This shows how market manipulation will never end in even years to come. I think everyone thought that Bitcoin is becoming evenly distributed as there is a rapid adoption but I think we are just exchanging our money with each other with almost no certain increase in total holdings held by small investors. This is not a good sign for BTC more concentrated BTC will be more volatile it be and more subject to price manipulations.

Possibly those are the investors who accumulated Bitcoin from over $10k. Why would they sold their Bitcoin just to lose? Of course they are gonna keep until they have gained some profits. This is good though, this will keep Bitcoin steady for now.


Yup, it's inevitable mate. You can't stop them to buy huge amount of Bitcoin. It could be prevented if the distribution from the start is evenly distributed. But we can't do anything about that. Whales are capable to buy any amount they want and let them manipulate the price. Just go with the flow.

I think more and more people have already bought bitcoin and hold their assets in wallets like blockchain or others so that they think it can be safer, even though there are those who store bitcoin at the exchange site, it doesn't matter, as long as more people buy bitcoin, then less bitcoin in circulation and the price of bitcoin will be more expensive.

Well lets just hope that this scenario indicates that more new whales are coming to the scene and not just with those veteran whales accumulating more BTC's as much as they could! What you've stated is probably true, and you're just like saying that "the rich becomes richer, while the poor becomes poorer" but I guess its a reality! ;)

I just hope maybe someday, Bitcoin will achieve a more wider distribution and adoption which could result in us getting less fears from market manipulation and undue influence supposedly coming from some of these whales.

I'm using technical analysis as a trader and there is no sign of a bullish sign. There is no connect between the market reversal and the rise of the bitcoin addresses that holds 1k BTC or more. I also do not agree that we should buy at this moment because we have a bullish market that consists of lower lows and higher lows so the cheap price of the bitcoin can be more cheap.

More whales are stepping up into the game or some of the whales simply distributed their Bitcoins in more wallets. There is also a chance that institutional systems are buying more and more as this is nothing new but that chart is doing to Bitcoin some justice as it was about time to leave the bear market.

Last night the charts acted crazy so I assume this was a part of that because the buy orders were so crazy last night with a lot of Bitcoin being bought on the exchanges and now wee see a small correction as effect of the last night. For me personally, I think we left the bear market on 15th October and entered the bull market on 16th and now its slowly build into the bull run which will not happen until the winter passes but this is just what I assume reading the charts , looking at transactions , big withdrawals from exchanges , big buy on exchanges , mass-media publish about Bitcoin , halv approaches and people getting impatient about the price like they were never before during this year.

https://i.imgur.com/VakxCrn.png


Just because the price dropped even further after 15TH doesn't mean we didn't left the bear market. This is how I see things and I'm no expert....just my opinion.

I've been bullish to bitcoin but I don't see this as a sign of being bullish of the market. This could be a distributed bitcoin by the whales even before or exchanges. I just don't see the relation of having an increased number of people holding 1k BTC to the bullish sign.

But on the other hand, I see this as a positive sign that the market is growing.

Bullish signs are not yet visible, having 1k BTC in wallet does not mean it's a sign that Bullish will arrive soon. I believe the price of Bitcoin is still in the Bearish trend so later the price will go back down, maybe up to $ 7,000. I think if the price of Bitcoin decreases again then that's the right time to buy.

lobat999, in my opinion, such stats don't matter too much, although people are always fascinated by the numbers and look for reasons to help them try to predict the future. But looking at the past, we can conclude that after the halving bulls become powerful, and that new big bull run probably has the highest chance at the end of next year, or in 2021/2022.

I don't know if you know about Tom Lee speculation that Bitcoin price should be $14 000 just because there are a certain number of active addresses, which is really funny, but expected considering where it came from. What I am saying is that analyzes of such data may be interesting, but not crucial to determining what will happen and when.

Duly noted Sir! I think you also have a point and I admire having a healthy discussion with you and the rest of the the community, to share our ideas and opinions in light of these developments with the aim of gaining some useful insights in this industry.

Anyway, as cryptoenthusiasts, I think we could both agree that an imminent bull run is about to happen, as what you've stated - regardless of any data or statictics that might or might not support it. I guess most of us here also share the same ideals of a robust crypto industry. :)

I can not say anything with certainty, and I don't think anyone else can either. We can only hope that Bitcoin will continue to follow the same pattern as it was the case in the first ten years of its existence. Although we need to be very careful because even though most are hoping for positive things, there is always the possibility that things can move in the wrong direction.

We are witnessing the coming economic crisis, so even though Bitcoin was born at the beginning of the 2008 economic crisis that has hit the world, it is completely unknown how the new crisis will affect the market of cryptocurrency. The US government's very negative attitude towards cryptocurrencies also raises fears of possible restrictions in that country, and it is a common knowledge that something that happens there has an impact on the whole world.

What is unknown always presents a challenge that cannot be predicted, but as Satoshi himself stated at the very beginning :