Bitcoin presents a ‘generational investment opportunity,’ but do the whales disagree
Bitcoin’s [BTC] recent rally has brought with it a lot of optimism and speculation about its future. In fact, an analyst has suggested that the electrical costs of Bitcoin could provide some backing to the unbridled optimism surrounding the king coin.
Read Bitcoin’s Price Prediction 2023-2024
Analyst Charles Edwards, Founder of the Capriole Fund, claimed in a 5 April tweet that historically, whenever the price of Bitcoin matched its energy expenses, it has presented a rare chance for generational investments in Bitcoin.
According to him, this is a very trusted indicator of BTC’s prosperity in the long term.
Source: Trading View/Charles Edwards
Many BTC holders’ behavior suggested that they believe in the long-term prospects of Bitcoin as well. In fact, holders from most cohorts were observed to be accumulating Bitcoin, according to Glassnode’s data.
However, it’s worth noting that whale addresses do not share the same optimism towards the cryptocurrency as other holders.
<p lang=«en» dir=«ltr» xml:lang=«en»>Inspecting the components of the #Bitcoin Accumulation Trend Score, we note that 5/6 wallet cohorts have shifted towards balance increases.However, the largest of Whales ( > 10K BTC) remain the exception, continuing their trend of coin distribution.
Read more on ambcrypto.com
