Ancient Bitcoin Whales Register 223% Profit One Day Prior Halving

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According to a recent report by Ki Young Ju, CEO of CryptoQuant, ancient Bitcoin holders, also known as long-term investors, have experienced a substantial increase in profits, totaling approximately 223%. This profitable trend emerges just prior to Bitcoin’s upcoming halving event, which is set to occur within the next day.

Although ancient whales with substantial Bitcoin wealth may appear to be at risk of cashing out due to their large profits, it’s more probable that the shorter-term holders pose a greater threat. Their almost non-existent unrealized gains on Bitcoin holdings diminish the motivation for selling further.

Revised: #Bitcoin: Differences in Unrealized Gains Among On-Chain Groups as of Now:

— Ki Young Ju (@ki_young_ju) April 19, 2024

The strongest argument for more Bitcoin selling before and during the halving could be a significant drop in Bitcoin’s price, causing panic among short-term investors who sell at a loss and face margin calls. Simultaneously, long-term holders remain unfazed by the halving’s impact on the current price, enjoying substantial profits of over 100%.

Two questions

As the clock ticks down to the cryptocurrency halving, anxiety and excitement grow among investors. In the past, this occurrence has led to significant market fluctuations and changed attitudes towards investing.

Despite the uncertain situation, long-term investors continue to be confident, bolstered by significant profits and a strong conviction in Bitcoin’s fundamental worth.

With the crypto world eagerly anticipating a significant development, attention turns to the veteran investors, or “ancient whales.” Will these experienced players cash in on their earnings, possibly causing market instability? Alternatively, will they stay true to their long-term investment plans, providing support for Bitcoin during price fluctuations?

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2024-04-19 14:32