Cryptocurrency markets experienced a long bearish cycle last year which has continued into 2019. With some of the top cryptocurrencies like bitcoin cash (BCH) and bitcoin core (BTC) losing significant fiat value, large holders, otherwise known as ‘whales,’ have been able to accumulate massive amounts of digital assets. According to the top 100 rich list addresses for both coins, the world’s richest bitcoin holders have taken full advantage of ‘weak hands’ and discounted prices.
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Large BTC Holders Gathered 150,000 Coins Since December 17, 2018
During the start of the weekend on Feb. 22, popular cryptocurrencies were coasting along after making some decent gains a few days prior. However, on Feb. 24 prices fell sharply and most coins lost 10 percent of their fiat value in a 30-minute timeframe. This type of trend has been a consistent pattern over the last 14 months. These ups and downs have allowed large BTC and BCH holders to capture coins at a cheaper rate every time prices have dropped and whales have managed to stockpile thousands of coins. Looking at the top 100 rich list addresses for both networks indicate that whale wallets increase their accumulated holdings during every large drop. The large drop on Feb. 24 was no different and whales managed to get a lot more BCH and BTC immediately after crypto prices were slashed.
The rich list for the top 100 BTC holders also shows a bunch of exchanges, but these wallets are clearly labeled so the public can track them. Today, on Feb. 25, cryptocurrency exchange Bittrex has
