BITCOIN NOT RISING QUICKLY ENOUGH? ANALYST SAYS EARLY HODLERS COULD BE THE REASON
https://media.zenfs.com/en/benzinga_79/9949e3f50e61b3dab35b98630e6ac4fb
✍️ Cryptocurrency analyst Willy Woo attributes Bitcoin's slow price rise to early investors selling their holdings, citing their high cost basis and slow rate of selling.
👉 Early Bitcoin holders, or "OG whales," are selling their assets slowly, which is impacting the price of Bitcoin. 👉 It takes a significant amount of new capital to absorb each BTC sold by these early investors. 👉 The cost basis of early investors is high, making it difficult for the price of Bitcoin to rise quickly. 👉 A Bitcoin advocate, Parman, argues that early holders are unlikely to sell large portions of their holdings and will instead keep billions in cash.
-- #WillyWoo #Parman #JeromePowell #AnthonyPompliano #JeffBezos #technology
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