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Tuesday

24 November 2020

First Mover: Bitcoin ‘Rich List’ Grows as Whales HODL and Price Retakes $18K - CoinDesk

First Mover: Bitcoin ‘Rich List’ Grows as Whales HODL and Price Retakes $18K - CoinDesk


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It will be interesting to see if prices establish a foothold above that level on Friday. .

So much so, that bitcoin has moved back above the $18,000 level and remains on track to retest the highs from earlier on in the week,” Denis Vinokourov, head of research at the London-based prime brokerage Bequant said. .

Bitcoin has climbed for seven straight weeks, the longest streak since early 2017, when prices began their push toward the all-time-high near $20,000 in December of that year.

Those indicators appear to show just how few investors are willing to part with their bitcoin, even with signs mounting that a growing number of big institutional fund managers from traditional markets are seduced by the outsize gains, during a year when few other trades appear to be producing big wins

The number of bitcoin in trader-held wallets, or those theoretically more likely to take profits as prices rise, has declined this year

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coindesk.com
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