Research: The Bitcoin Whale Awakening May Herald Growth …

Research: Bitcoin Whale Awakening May Herald Rising Market Volatility

The number of “revived” after a long break bitcoin-wallets increased lately that can serve sign the upcoming increase in volatility on market, writes Bloomberg with by reference to research data from Flipside Crypto, in November attracted funding Coinbase and Digital Currency Group.

According to Flipside by October 2018 of the year a large number of bitcoin holders who did not move their assets for 6-30 months, began to show activity again, as a result of which share used wallets began to account for about 60% of the current issue of cryptocurrency. Since summer 2018 volume assets on the used wallets grew on 40%.

Reducing the number of inactive bitcoin wallets

“We are definitely seeing a big change. Potential now for price fluctuations are higher, than to another time“- said the head of data research Flipside Eric Stone.

Research: The Awakening of Bitcoin Whales May Herald Growth ...

Bloomberg notes, that similar dynamics preceded sharp price fluctuations in 2015 and 2017 – in the latter case, the bitcoin rate rose to $ 20 000.

Flipside CEO David Balter stressed that we are talking about long-term cryptocurrency holders, many of which stayed away for two the last years old. Stone stated, what this the trend could continue by adding: “We have no reason to believe that they are will be idle yet two years”.

In October company Chainalysis has published a study in which stated, that the decline in the bitcoin rate for last years should not be associated with the activities of the so-called “whales”, because for the most part they preferred to buy rather than sell cryptocurrency.