WHALES (QUIETLY) BUYING BITCOIN! ETHEREUM to EXPLODE After MERGE in SEPTEMBER!

WHALES (QUIETLY) BUYING BITCOIN!  ETHEREUM to EXPLODE After MERGE in SEPTEMBER!

Bitcoin is at an inflection point, consolidating near the lows of $20,000 and just above $19,000. Some people say a $10,000 bitcoin is in the cards. There is a lot of support around the $13,000 to $14,000 area, yet things look bleak. However, quietly in the background, whales are accumulating bitcoin. Whales bought 275+ bitcoin from exchanges in the last 18 hours. Whales are buying 140,000 bitcoin each month directly from exchanges. Don’t believe me? It’s right there in the data, guys. Let’s dive into this data and keep notice that Jet-Bot, an authorised Binance trading bot. If you are still not a crypto currency holder, this is one of the best services for earning passive income. You will earn a much higher return than you would in a traditional bank, but this comes with risks. That’s why Jet-Bot prodives you with more safety measures in place to secure your money.

Whales are QUIETLY buying bitcoin

They don’t want you to know, but thanks to unchained data, we can see what whales are doing. As bitcoin crashes, data shows whales are buying the dip. Amid the ongoing crypto trading crash, on-chain data indicates that so-called bitcoin whales have been quietly filling their bags. The leading cryptocurrency, bitcoin, is currently trading under $20,000, down 35% year to date and up to 71% from its all-time high of $69,900 in November of last year. During massive sell-offs like this, many investors sell their holdings.

However, this does not appear to be the case for those entities holding more than 1,000 bitcoins. The data from the IntoTheBlock indicates that these whales have actually continued to accumulate cheap coins despite the bearish prices. This is that data:

WHALES (QUIETLY) BUYING BITCOIN graphics
WHALES (QUIETLY) BUYING BITCOIN chart

Take a look at this orange line, and it’s important to note that whales are entities that hold 1,000 bitcoin or more. They don’t just buy all the time. They typically go through accumulation and distribution cycles that are often aligned with bitcoin’s market structure. When the price dips, they buy when there’s a fever in the air and everybody’s excited about the price going up. Sometimes whales sell well at the moment. The whales are adding to their balance aggressively, acquiring 140,000 bitcoin per month directly from exchanges. Whales are aggressively buying bitcoin. They own 8.69 million of the bitcoin supply, about 45%.

Who else is buying?

Small bitcoin holders with less than one bitcoin have also been adding to their balance at the most aggressive rate since March of 2020, using the bitcoin copy trading, the most aggressive rate since the COVID dip of 2020. Each month, the shrimp add 36.75 thousand bitcoins, accounting for 0.2% of the circulating bitcoin supply and 1.36 times the monthly issuance. The shrimp now hold 1.2 million bitcoins in total. These shrimp are probably smarter than the average retail investor because they’re doing things that smart money is doing.

Has bitcoin bottomed?

The previous week’s $17,000 price point was the bottom for bitcoin, and, of course, bitcoin bottom formations are only visible in retrospect. While they’re reforming, they’re not obvious at all. While they’re forming, just because certain patterns performed well in the past doesn’t guarantee they will unfold similarly in the future. Here’s the thing: I believe a year from now, two years from now, and three years from now, bitcoin isn’t going away and, over time, as demand increases, particularly as the world trends more digital and people realize how centralized and permissioned all of their things online are, I believe the demand for bitcoin is only going to increase.

Buying bitcoin at $17,000–$20,000 today will be a good long-term investment. That’s my personal opinion. I mean, what other time have we seen small countries bragging about the bitcoin that they’re buying? El Salvador bought 80 bitcoins at a price of $20,000. Today, bitcoin is the future, says their leader. Thanks for selling it cheap.

You might say that 80 bitcoins actually isn’t all that much for a small country, and buying 80 bitcoins isn’t going to affect the market price of bitcoin at all. I understand that. I agree with that. But more important is the narrative. You can bet that all eyes from around the world are on Nadib Buchelli in El Salvador. The IMF is watching this. Russia is watching this.China is watching this. America is watching this. They’re seeing El Salvador with 80 bitcoins and they’re thinking: “Huh, we don’t have 80 bitcoins. Maybe we should get some.”

Ethereum a good investment?

Let’s talk about ethereum. I’m bullish on bitcoin for a certain set of reasons. I’m bullish on ethereum and other cryptos for almost an entirely different set of reasons. As you know, NFTs will be launching on Instagram and will be launching on Facebook. This is what it’s going to look like. This is an ethereum address. How could you not be bullish on ethereum? Facebook has billions and billions and billions of users.

WHALES (QUIETLY) BUYING BITCOIN image

Not to mention ethereum from a tokenomics standpoint, 2.5 million ETH have now been burned since EIP 1559 went live. This is supply taken off the market forever. That’s over 2.5 billion dollars burned forever. If you’re bullish on Microstrategy and Michael Saylor buying all the bitcoin, if you think that’s bullish for the price of bitcoin, if you’re bullish on El Salvador buying bitcoin, those things are bullish for bitcoin. They do take supply off the market, well EIP 1559, and the burn mechanism takes more ethereum off the market for ETH, so if you believe in supply and demand, which is a universal truth, how could you not be bullish?

Ethereum Merge in SEPTEMBER!

By the way, the merger is coming up and will only be better for those with supply and demand scarcity. A quick update on Ethereum’s progress toward the merger: The two milestones are checked off. This week marks the launch of the Ropsten testnet and Devnets. The Sepolia testnet is followed by the Goerli testnet, and finally the Ethereum mainnet.

The merge will be here. The merger is coming this year. The only question is when. Well, currently the merger is scheduled for mid-to-late September. It is important to note that scheduling is done via block numbers, thus it can fluctuate due to hash power changes, but it seems very likely ethereum will transition to proof-of-stake this year.

Ethereum average gas fee falls to $1.57 (lowest since 2020)

And by the way, ethereum was for the rich in the bull market. Well, ethereum can be for everybody in bear markets. I say this because Ethereum’s average gas fees have fallen to $1.57, the lowest since 2020. So if you use the ethereum ecosystem, now might be a good time for the next couple months to get your ethereum transactions in.

ConsenSys Partners With StarkWare (Huge Metamask News)

Speaking of Layer 2, because Layer 2 is being built out and integrated and adopted like crazy. This is big news. ConsenSys partners with StarkWare. This is a rollup L2 solution that does not have a token at this point. They use zero knowledge roll-ups, and zero knowledge roll-ups are being increasingly integrated into the Ethereum network in general. What you need to know is this. This is why it matters to you: ConsenSys and StarkWare have entered into a partnership. ConsenSys is really the company, the entity, the DAO behind Infira and behind Metamask, meaning that Metamask, the most popular hot wallet, I would say, is integrating StarkNet, allowing developers and users to build and explore Layer 2 options. In the future, it is expected that StarkNet will assist Ethereum in reaching a throughput of 100,000 transactions per second.

#1 Tip to SURVIVE this crypto bear market

I want to remind you that the people who made the most money in 2021 were not the people who came in 2021. They made good money, but the people who made the most money were the people who stuck with bitcoin and crypto in 2018, 2019 and 2020. That’s where we are right now. I think one of the best things you can do is just invest in yourself and in your education. Really dive into this and become a nerd about it. Historically speaking, crypto nerds have made a lot of money.

[This article is a transcription of a video made by Altcoin Daily]

Original video: https://youtu.be/alqn3yOWdas]