Summary
- Analysis suggests Bitcoin’s (BTC) sluggish upward trend is due to its high asset price.
- Willy Woo pointed out that the main reason is the large amount of capital required to accumulate Bitcoin.
- Bitcoin’s supply is dominated by ancient whales, making it expensive to purchase the cryptocurrency now.
A recent analysis suggests that Bitcoin (BTC) has been climbing more slowly than other cryptocurrencies such as Ethereum (ETH) and XRP due to its high price. On the 25th (KST), Willy Woo stated on X (formerly Twitter): "The reason Bitcoin is rising so slowly in this cycle is because the amount of capital needed to accumulate Bitcoin is enormous." More specifically, Willy Woo explained, "Bitcoin’s supply is largely controlled by ancient whales," and added, "They bought Bitcoin at $10 each, but buying those Bitcoins now requires $110,000 per coin."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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