Bitcoin, which continues to hold above its peak in April, continues its sideways movements. This horizontal trend of Bitcoin causes us to follow a mixed course in the altcoin market. While some altcoins are positively diverging from the market, we observe that some follow Bitcoin.
Experts remind that at this point, it is necessary to focus on those with the potential to rise, rather than the coins that have risen.
We shared on our Twitter account that the horizontal trend in Bitcoin is related to the accumulation process of the big players and that we are approaching the end of this accumulation.
The accumulation of long-term wallets in Bitcoin seems to be over. You see how the price moves when they start selling. Don’t focus on noise, think long term.#Bitcoin #altcoins pic.twitter.com/KCW8owKVpC
— Bitcoin System (@bitcoinsystem) November 10, 2021
Because when they first started to accumulate BTC again (09.04.2021), we also mentioned that this could be a decrease signal. Bitcoin later experienced a 50% correction.
According to our thesis and previous price movements, long-term Bitcoin holding whales are preparing to enter the selling phase. In order to sell the collected Bitcoins in this process and to find new buyers, BTC the price will still have to be driven up by these whales. Therefore, we maintain our bullish expectation in Bitcoin and altcoins. We believe that the peak signal will come when the sale is over and the accumulation phase is started again.
Stay tuned for this and more.
*Not Investment Advice.