- Bitcoin touched $19K+ figures todat, 24th Oct 2020
- The prime reason for this historical move is due to whales buying Bitcoin, accumulating, and not selling it back.
- This fact has been proven by charts presented by whalemap
- A report from Santiment also shares a fact that there are about 114 whale holders holding above 10000 Bitcoins, and 2500 above 1000 Bitcoins!
- Important here is there are hodling and not selling.
- Other reason is that the bitcoin supply is drying up. We saw the bitcoin halving on 11th of May of this year
- All halving seasons have seen significant rallies of Bitcoin price. And this years halving looks to be no exception.
- Volume of money pouring in on exchanges has been increasing steadily since September across exchanges, which adds to a positive sentiment all over.
- And the Trump Factor! :)
Enjoy the ride!