These Whale Wallets only buy the Bottom of the BTC Market Cycle
On-chain data reveals a number of wallets that have historically made Bitcoin purchases only when Bitcoin was at its ‘bottom’.
Note: These are not wallets that were selected from a specific data set. Rather, the method of data collection was more ‘randomized’ as I went through a large list of whale wallets one by one. Doing so led me to a number of wallets such as the ones listed here that showed a striking correlation in their method of accumulation.
If anyone wants to view the complete list they can skip to the end of the article where the complete list is shared.
I’ll try using this space to analyze in more detail the buying activity of these whale wallets.
Observation 1: Almost all of these wallets bought BTC in 2018 and 2021. After the first round of accumulation in 2018, these whales only surfaced in the summer of 2021 when Bitcoin was near its bottom at $31–32k.
This whale bought BTC almost at the bottom in 2021 (at $31k) and hasn’t bought since. The buy before that was in 2018 at $3k (also at the bottom).
Another wallet following the same pattern. Bought the bottom in 2018 at $3k and then again bought the (local for now) bottom at $31–32k in 2021. The reason I'm shortlisting some of these wallets here is that these are the whales that have been winning by buying the bottoms before they pump. It's interesting that they bought in 2018 and only bothered to buy again in 2021 when BTC was around $31–32k.
Observation 2: Whenever these wallets have bought at these prices, Bitcoin never saw these lows ever again. (Ofcourse, that’s what buying the bottom means. But you can imagine the implication of keeping track of these specific whales!).
Complete List (I will try to update the list as I find more):
- https://bitinfocharts.com/bitcoin/address/16BBBjvAArL3zdb1Fh1isr2w2hX7K1K4Gm
- https://bitinfocharts.com/bitcoin/address/1Cus9pZdkckCz23bDAsKMY6aLSQ7CmuHyw
- https://bitinfocharts.com/bitcoin/address/134ooU6EQmCFFzEPN7yga3S1XikcBtynco
- https://bitinfocharts.com/bitcoin/address/1Jc7vYQHCnmdyhbpcv5o3pYtUbH6Sk139z
- https://bitinfocharts.com/bitcoin/address/17rVQwoL5v18KfoQJNMMoMBm3rDjodxw1m
- https://bitinfocharts.com/bitcoin/address/1MYv4C4hZ7hC5sbHrPkzvmNoozQgnHKeAU
- https://bitinfocharts.com/bitcoin/address/18Ayw3caz2xGDhTfz1nJxLw1NURPtBNJnn
