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Ki Young Ju, CEO of Cryptoquant and crypto analyst, tweeted about institutions coming for crypto and about whales accumulating BTC as we go through a bear market.
The CEO mentioned that the institutions are coming for BTC. Reportedly, large institutions have shown a keen interest in BTC and have been accumulating them lately; unlike retail investors, institutional investors are likely to accumulate a sizeable chunk of coins.
Ki also mentioned that whales are accumulating BTC. Whales are generally individuals who hold a considerably large volume of a particular coin. Unlike small holders, whales are powerful enough to cause minor fluctuations in the market.
The tech leader also highlighted that the Bitcoin hashrate hit its all-time high recently. It crossed 300 to hit 325.11 EH/s on October 11, as per the data from Coinwarz.
Following these remarks, Ki mentioned that crypto has fundamentals and that the long-term holders are not selling their BTC. Ki is indirectly hinting to his followers that now is the time to buy and accumulate BTC, even though he mentions that it is not financial advice.
Analysts believe that whales have understood the fundamentals of crypto and henceforth have kept on accumulating cryptos, including BTC. Even though the crypto market is slumping in a prolonged bear market, many suggest that it is a healthy cycle for any market.
Analysts advise buying the dip, and this dip is particularly advantageous for those looking to enter the crypto realm. Even though major coins are trading at their lows, the next bull run might see them take off.
The post Cryptoquant CEO Warns That Whales Are Accumulating BTC appeared first on Coin Edition.
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