Founder of CryptoQuant Says Bitcoin is Collecting Like Crazy: Rally Period is Coming!
Ki Young Ju, founder of on-chain analysis platform CryptoQuant, stated that the cryptocurrency market has entered a new era.
In his post dated May 3, Ki Young Ju focused on a remarkable on-chain data. Emphasizing that Bitcoin whales have accumulated 47 thousand BTC worth 2.4 billion dollars in the past 24 hours, Young Ju said that the market has entered a new era.
Bitcoin whales accumulated 47 thousand BTC in the last 24 hours. We are entering a new era.
Whales are generally known as long-term investors. Therefore, purchasing large amounts of Bitcoin may indicate that they have increased confidence in the market and believe it will appreciate in value in the future.
On the other hand, positive movements in the price in line with the purchases of whales may push small investors into FOMO and help the rises gain new momentum.
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