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Bitcoin has struggled since the mid-May crash. It has tried time and again to be able to cover most of the resistance lines and reach near if not cross its previous all-time high. But in this pursuit, Bitcoin has failed miserably, time after time as the resistance continued to get more complicated so did the defeat for Bitcoin. There were times when the flagship cryptocurrency was stuck at $45K, managing to get through but only to fall once again. This hide and seek continued for some time, and then it was all better, but after whole two months. Bitcoin first managed to score the $50K resistance, and from then on, it was a pretty straightforward reach to $60K and above.

At the time of writing, Bitcoin is at $62K, and going further, the sentiment of the market is very strong at the moment. Every investor and trader out there is only buying Bitcoin and wants to invest as much as they’ve got because if the flagship cryptocurrency manages to pull off a new all-time high, then it will be able to provide the investors with some hefty return for their investment.

Bitcoin Continues to Increase in Terms of Value

The number of Bitcoin whales has increased since the mid-May crash, and it was a gradual increase rather than a thrust of the moment thing. Everyone wants to take on this ride instead of sulking into the fear of missing out or FOMO. The current activity on the Bitcoin blockchain suggests that at least 254 new addresses have been spotted, which accounts for a 1.9% increase in the number of whale holders. These whale holders only come out for the big fish, and they’re not interested in petty cash or small return on their investment.

This is exactly what this opportunity presents them, a chance to secure a hearty deal on the initial investment that will be put into Bitcoin and thus the crypto market. All they have to do after chipping in their investment is to wait for the tide to turn and turn it will, only it will be presenting them with some magnificent return on the original investment.

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Larry Wright

By Larry Wright

Larry Wright is a Pulitzer Prize-winning journalist and author. He is known for his insightful reporting and his ability to delve into complex issues with clarity and precision. His writing has been widely acclaimed for its depth and intelligence.