Bitcoin whales are becoming so commonplace that they are now part of everyday conversation.
2-3 years ago, whales would have been a buzzword in the market, but today, they are no longer an outlier but a routine, predictable piece of information.
This change reflects the current reality: retail investors are moving away from Bitcoin, leaving the door open for whales to dominate the market. Everyone seems to recognize this new dynamic.
Definition of a bubble: A period in which the market price is significantly higher than the amount of money flowing on the network. Right now, we are clearly in a bull market, with data on the network showing $7 billion flowing into the market weekly.
Whales are no longer moving people—perhaps because analysts, including myself, have been saying for two years that we are in a bull market. But the bull market is not over yet. If Bitcoin entered a bubble, you would see all the analysts talking about a cyclical top.
Right now, there is no sign of Bitcoin reaching a top. Sure, corrections are possible, but we don’t expect to see a correction exceeding 30%. And even if such a correction occurs, it is likely to be short-lived, with prices likely to rise by more than 30% after the correction.
We are far from the top of Bitcoin. For those who expect a bear market to begin, I would love to hear their reasons.
One thing is for sure: they are not looking at the data on the network.