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The analyst answers a fundamental question; Who controls Bitcoin?


Willy Woo, a leading digital currency analyst, said there is a special group of bitcoin investors who provide the power to shape uptrends. “Contrary to popular belief, the mainstream market is not controlled by whales,” he said.

to the the report The Daily Hoodle, Wu, said small investors, or those with bitcoin holdings of less than 1 unit, are still accumulating bitcoins and have outgrown the massive sell-offs made by large investors or whales.

Wu said in this regard:

As can be seen from the weekly chart of bitcoin inflows of small investors (with less than 1 bitcoin inventory), it is the micro-investors who are driving the uptrend. When they stop buying, it means a warning to form a downtrend. They do not stop buying. In the last 30 days, the whales have sold 4,000 bitcoins [این در حالی است که] Micro-investors have bought 31,000 bitcoins.

The analyst answers a fundamental question;  Who controls Bitcoin?
Comparison chart of micro-investors’ inventory and bitcoin price

Wu believes that whales only affect short-term price changes. Wu’s hypothesis is contrary to the opinion of many traders who believe that it is the big investors who control the market situation.

Wu said:

Whales have only short-term trends, and this is one of the most consistent patterns of behavior [بازار] Is. At wider intervals, I consider whales, dolphins and sharks (medium-sized investors) as the driver of the market’s uptrend. But it is the flow of micro-investors that drives the middle and end of the market uptrend.

“Looking at whale activity, you can see that smaller whales are compensating for the pressure to sell that their counterparts launched a few months ago,” he said.

Wu said:

My data is for real whales. Investors with more than 1,000 bitcoins in stock minus digital currency exchanges, whose raw data also includes whales. Large whales are currently on sale, small whales are accumulating, and the general flow is almost neutral.

The analyst answers a fundamental question;  Who controls Bitcoin?
Bitcoin supply distribution chart

Will Clemente, another digital currency analyst, agrees with Wu, saying he agrees with investors who are still accumulating 1,000 to 10,000 bitcoins.

Clement said:

This hypothesis is based on whale inventory, and there are 1,921 whales holding 4,216,730 bitcoins. This is a significant increase, but keep in mind that this trend has been declining for months. Now we have to wait to see if there is a change in this process. Whales are accumulating instead of selling their assets, and new whales are emerging.

The analyst answers a fundamental question;  Who controls Bitcoin?
Bitcoin inventory chart of whales holding between 1,000 and 10,000 units

Wu had previously said in May that bitcoin was in the middle of an uptrend, and that a fall from a record high of $ 64,000 to $ 30,000 was essential to the long-term outlook for the market. He also predicted that Bitcoin would grow to $ 157,000 after overcoming this significant setback.

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