Chainalysis chief economist Philip Gradwell said in a weekly market intelligence report yesterday that “in the past three months, more than 1,000 wealthy investors have accumulated a lot of bitcoin. This was reported by Decrypt on the 23rd (local time).
In the report, Gradwell analyzed the price of buying and holding bitcoins using blockchain data. His analysis took into account how long investors held Bitcoin after buying it.
Gradwell found that when Bitcoin was worth about $54,500, 1,200 investors bought 450,000 Bitcoins for a total of $24.5 billion (about 27.4 trillion won). The chart below shows how much bitcoin has been bought at different price levels over the past few months.
Gradwell added that these wealthy investors each hold between 100 and 1000 bitcoins, holding their coins for 1-3 months.
His charts also recorded other important purchases by whales. For $55,800, investors bought 229,000 BTC for $1.3 billion (about 1.45 trillion won). Gradwell noted that this bitcoin purchase was made on a cryptocurrency exchange.
“As prices drop to their average cost, I expect them to buy more and lower the price for that price,” said Gradwell.
But, as Bitcoin plunged below $50,000, and hasn’t reappeared so far, Gradwell’s words haven’t been realized so far. They seem to be bitten too.
※ All posts in Coincode, a simple personal blog, are paraphrased & referenced from overseas news, not Coincode’s opinions. Coin codes are not based on facts! It doesn’t mean anything more than a reference (just filter it out). For quick news, use each coin’s Twitter!
[Coincode (coincode.kr), if you share, please leave the source. ]
The post last few wrote to invest $ 245 million in the Group during the month Bitcoin appeared first on the coin code .
Disclaimer: The content of the “Coin Code Spot” section is one source that is provided after translation into Korean or English, and is composed based on a reliable source, but it does not mean that the information has been confirmed, and can only be used as a reference. We cannot provide opinions, etc. Faster and faster breaking news of various foreign media is available at’coincode.kr’ .
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.