Successful analyst Willy Woo said that according to a data he obtained, the Bitcoin market is largely on the rise.
The famous analyst, who has 723 thousand followers, stated that there is an enormous distribution phase in BTC and that an equal distribution of BTC supply will be better for BTC in the long run.
“Bitcoin continues to distribute coins evenly. Public and retail establishments continue to have more control over supply as whales reduce their control.”
Pointing out that retail investors and institutional investors holding more than 10 Bitcoins are powering the Bitcoin bull run, the analyst said that whales or those holding at least 1000 BTC continue to buy the leading cryptocurrency BTC.
Whales think the coins are cheap right now. Whales are opportunistic. They are on a ten-year diversification plan selling to every bull market, having earned their money. However, when they see a strong rally ahead of them, as they are now, they seize the opportunity to buy.”
Finally, in his BTC assessment, the successful analyst pointed out that public companies are also in the middle of accumulating Bitcoin, and the supply of BTC on crypto exchanges continues to decrease.