Blockchain analysis shows the top 100 wallets have swelled by 150,000 BTC in the past two months.

While everyday traders have been panic selling, the big players have been snaffling coins left, right and centre.

Discounting exchange addresses – the five largest of which each hold over 100,000 BTC – the next fattest 100 Bitcoin addresses each have somewhere between 10,000 and 100,000 BTC.

And, since December 2018, they’ve been getting fatter. Another two have joined the 10k club, and in total these wallets have stockpiled 150,000 BTC – an average of 1,500 each, more than most of us will see in an entire lifetime.

Is this significant? Kind of. Firstly, it just underlines the principle that the rich get richer, in bitcoin or any other currency. The wealthy are able to ride out the ups and downs of the market, accumulating more coins as poorer individuals have to sell theirs to pay bills. At a time of opportunity, with lower prices, it’s the rich who get to take advantage of it the most. When the market turns around, they’ll be selling high once again, distributing coins on the way up in preparation for picking them up again on the next downturn.

Secondly, the pace of accumulation tells us something about the state of the market. The faster this process happens, the closer to the bottom we are. And, when it stops and those larger wallets are static – or even begin to fall in value – then it’s a good indication that Big Money thinks the bottom is in.

This does not constitute financial advice

What can we do about this? Well, to whatever extent possible, emulate Big Money. The market could fall a lot further – we’re still half-expecting that sub–$3k move – but in the grand scheme of things it’s low enough to be worth picking up more BTC. It’s what the whales are doing, and they’re wealthy for a reason. We know the turnaround is coming. We don’t know when. But we do know that when it does come, there will be plenty of people who missed out on these prices.

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