Bitcoin (BTC) investors should buy BTC when the whales do something specific – landing begins in a few months.
This was the latest vision from Ki Young Joo, CEO of CryptoQuant Analysis Resource, who showed that when bitcoin sets go out of exchanges, it’s time to enter the market.
Analyst: buy BTC before the whale cycle rises
When downloading two charts comparing the increase in bitcoins for 2017 and 2019, Key indicated that the start of each upturn occurred four months after the height of the whales.
Data were obtained on a seven-day CryptoQuant scale from the moving average of the stock exchange.
He summed up in the comments on Twitter: “Buy #BTC when whales send bitcoins from the stock exchange.”
“The BULL market usually starts four months after the average currency withdrawal reaches its highest level in a year.”
The tip can be very timely, three months after the last annual distribution of bitcoins in March. If the trend repeats – in the midst of a large number of other encouraging signs of BTC – the beef market should start in July.
Bit trend factors converge to Bitcoins
According to Cointelegraph, other indicators also indicate that Bitcoin is bouncing off the minimum price. It is noteworthy that the foreign exchange reserves have now returned to their lowest level since December 2018, when BTC / USD was trading at $ 3,100.
Miners also sell less than BTC, after a short sale more than they earned after the support fell in half in May.
In a larger sense, investors spent in 2020 to accumulate BTC, as 90% of the days had a net increase in assets.
Last week, Ki described how whales tend to wait quietly for exchanges to sell currencies, and are likely to draw investor attention to their actions.