A rise on Bitcoin addresses that holds 1k BTC or more is a bullish sign!

[BrewMaster]

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.

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[teosanru]

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.

[deadsilent]

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.

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.

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.

[Google+]

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.

[lobat999]

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.

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.

[DevilSlayer]

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.

[boltz]

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.




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.

[boyptc]

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.

[Dhoe]

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.

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.

[Lucius]

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.

[lobat999]

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.

[Lucius]

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 :

I'm sure that in 20 years there will either be very large transaction volume or no volume.