On-chain analyst Will Clemente says that individual traders buy Bitcoin, but this situation by itself cannot ensure a sustainable rally. Clemente breaks down the notion that individual buyers cause a 50 percent sale in the price of Bitcoin. Here are the details…
Analyst: Personal Bitcoin investors add to their portfolios
According to the analyst, while whales are selling, individual BTC holders are aggressively adding to their situation. “Personal investors are believed to be responsible for Bitcoin’s price drop,” Clemente said. However, information shows that this is not the case. Individual investors are aggressively increasing their holdings,” he said. Clemente says the evidence points to “deep pocketed” addresses, namely whales, selling Bitcoin behind the scenes.
Clemente emphasized the importance of big players entering the crypto space, saying, “While this situation is favorable for adoption, it shows that individuals cannot make Bitcoin a trillion-dollar asset. I doubt whether this bull run will continue, at least there should be some obvious new whales coming into the net,” he said.
Clemente: BTC will make a comeback
As we have reported as , despite the falling June, Clemente thinks that there will be a return for BTC. Pointing to a chart shared by another analyst, Willy Woo, the analyst says that the strong hands increased their investments in the last price drop and offset the sales from the weak hands.
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