William Clement claims big investors keep hoarding bitcoin
Analyst William Clement believes that the cryptocurrency market is currently in an upward trend. Clement argues that the uptrend will continue until October this year, as large cryptocurrency holders continue to accumulate bitcoin.
The analyst advised focusing on derivatives statistics to predict short-term fluctuations in the price of the first cryptocurrency.
We are currently in another bullish impulse of BTC getting locked up by strong hands. (entities with statistically low history of selling)
Expecting continued upside through October, just keep an eye on derivatives data for short-term price fluctuations. Comfy in spot. pic.twitter.com/F8GpSKzM99
— Will Clemente (@WClementeIII) September 18, 2021
Large holders of bitcoin (from 10 to 10 thousand digital coins) accumulated 60 thousand bitcoin from September 13 to September 16 (more than $ 2.8 billion at the current exchange rate on September 19).
🐳 #Bitcoin millionaires holding 100 to 10k $BTC dumped 70k $BTC between Sep. 6th & 9th, and the price dropped -14.7% by the 10th. These same whales have now accumulated 60k $BTC back the past 3 days, and price is back up 5%. Coincidence? Absolutely not. https://t.co/n6XEZ4RbtT pic.twitter.com/D3aT8GWVRP
— Santiment (@santimentfeed) September 16, 2021
On September 20, the price of bitcoin dropped to $ 43.2 thousand. Over the past day, the main cryptocurrency fell by 8%, and its capitalization fell to $ 828 billion, according to CoinGecko, bitcoin is trading at $ 43.5 thousand.
As a result of a decrease in quotations, traders’ positions in the amount of more than $ 800 million were liquidated. The largest loss per transaction occurred on the Bitfinex crypto exchange paired with Ethereum and amounted to $ 15.3 million.