Underlying on-chain trends agree with the positive sentiment put forth by the aforementioned trader.
As reported by Bitcoinist previously, Glassnode reported that the number of BTC whales has been on a strong incline since the 2018 lows:
“The number of #Bitcoin whales (entities holding ≥ 1K BTC) has been on an upwards trend for the past months. An indication that more high-net-worth individuals are entering the space to invest in Bitcoin in expectation of $BTC price appreciation.”
Other on-chain trends supporting Bitcoin growth include an increase in the realized cap and a decreasing number of BTC on exchanges, which should support price growth.
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