Forex and Crypto News

Whales begin to buy bitcoin

15:31 18 February /2020

The cryptocurrency holders or the so-called “whales”, owning from 100 to 1000 BTC, have sharply intensified. This was noticed by analysts of the Kraken crypto exchange. Kraken published a report in which they noted the growing purchasing activity of the “whales” in February 2020.

At the same time, larger BTC holders, owning from 1000BTC, prefer to take expectant tactics. The Kraken study says that the rise of bitcoin price in January was just the result of a whale-funded policy (holding 100-1000 BTC).


A similar trend was observed earlier. As soon as the major players began to accumulate, the phase of aggressive growth of Bitcoin price soon returns. Therefore, researchers predict that the activation of "whales" in the first half of February will soon provoke a new surge in BTC.

An increase in the interest of large investors to Bitcoin was previously discussed in a review of the GlassNode service. Experts recall that from December 2018 to early February 2020, BTC grew from $3,120 to $10,000. This only means that more and more traders are transferring their capital to cryptocurrency.

Small market players are also involved in accumulation. The number of addresses from 0.1 to 1 BTC has grown by about 10% over the past year.

Experts are sure that the demand for Bitcoin is growing against the backdrop of unstable economic and political conditions.

Kraken researchers noticed another factor in the strengthening of Bitcoin price. It’s the injection of capital into the financial sector of China. The Central Bank replenished the economy with $ 170 billion and limited the outflow of capital from the country. Such a move forced large financiers to switch to alternative instruments and, in particular, to bitcoin.

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