Shrimp Investors Join Whales Of Crypto World To Keep Bitcoin Above Water
— Rate, Holdings, Water, Whales, Crypto, World, Investors, Month, Sell, Cent — 1 min read
Shrimps and whales are collectively adding to their balance at a rate of 60,460 bitcoin per month, the most aggressive rate in history. HODLers - investors in bitcoin as a long-term proposition who refuse to sell their holdings - are determined to drive back the bears. Bitcoin has been hovering around $19,000 to $21,000 over the past four weeks, less than a third of its $69,000 peak in 2021. Miners are increasingly under pressure as they face the double whammy of cratering prices and high electricity costs. The miners who survived in 2018 were the ones that kept producing even if they were under water, says Chris Bae, CEO of Enhanced Digital Group, which designs hedging strategies. Source