Urgent! Whales Are Buying #Bitcoin Should You Too?

======== Chapters ========

0:00 Introduction
0:26 How do we know that the whales are buying?
1:32 Are the whales going to be right this time?
4:29 Should you follow the whales?

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Are the whales going to be right this time?

Three indicators – broadly looking at fear, longevity, and leverage – are a great place to start. Let’s look at each to see if the whales might be headed in the right direction…

1. The crypto fear and greed index is pointing to fear.
The crypto fear and greed index can give you a good indication of the overall crypto market sentiment. Its value ranges between zero (extreme fear) to 100 (extreme greed) which is based on the logic that excessive fear tends to drive down prices, and too much greed tends to have the opposite effect. Right now, it’s at 13, around the range of the Covid crash (11) and the 2018 low (9).

2. Long-term holders are holding.
The next chart shows the number of bitcoin wallet addresses that have been inactive for a year or more – holding the same bitcoin all the while. The orange line shows that a record 65% of all bitcoin hasn’t moved for over a year. In fact, this number has increased by a couple of percentage points during the most recent drop. In other words, longer-term holders aren’t selling their bitcoin right now – despite the fearful sentiment in the market, which could means they’ve got more conviction than ever before.

3. Leverage traders have been flushed out of the market (for now).
As you may probably know, many bitcoin traders use leverage to boost their exposure to the asset’s volatility. Leverage positions are used so that traders can easily magnify the size of their gains when they get it right. But when they get it wrong, they can really lose massively.
After massive market drops, you’ll want to see a leverage reset which means that no one is speculating about the prices, and hence the market is purely determined by the credibility of the asset. The chart below shows a big drop in open interest (i.e. the volume of leverage positions) in purple. While this can certainly go lower, it’s a good sign – at least for now – that a lot of that leverage has been flushed out of the system.

So should you follow the whales?
Watch my video for more details!

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