Successful analyst Willy Woo said that based on the data he obtained, the Bitcoin market is increasing greatly.
The famous analyst, who has 723 thousand followers, stated on his Twitter account that there is a tremendous phase of distribution in BTC and that an equitable distribution of the BTC supply will be better for BTC in the long term.
“Bitcoin continues to distribute coins evenly. Public establishments and retailers continue to have more control over supply as whales reduce their control. “
Noting that retail investors and institutional investors with more than 10 Bitcoins are driving the Bitcoin bull run, the analyst said that whales or those with at least 1000 BTC continue to buy the leading cryptocurrency BTC.
Whales think coins are cheap right now. Whales are opportunists. They are on a ten-year diversification plan that sells to all bull markets, having made their money. However, when they see a strong rally ahead, as they are now, they take the opportunity to buy. “
Finally, in his assessment of BTC, the successful analyst noted that public companies are also hoarding Bitcoin, and the supply of BTC on crypto exchanges continues to decline.