It is speculated that Bitcoin will have a big bull run this year. But the question remains – who is really leading this rally? Compared to the previous bull market, there are some interesting observations.
Bitcoin is following who?
In 2017 it was whales. Whales led the 2017 bull market that drove BTC from $ 990 to $ 13,400. This year, that leader has to change because you and I should be the entity that should lead the bull market – the retail investor. Over the past 7 months, Bitcoin has become an important store of value.
However, in order to become a stable and sustainable currency of the future, increased participation of private investors is required. Only through organic growth can it last for a long time and become sustainable as legal tender in the future. And that’s surprisingly the case.
Private investors are currently dominating the market. When it comes to addresses, whales only have a 1.53% concentration, while retail owners today have an 88.64% dominance. At the same time, these whales only have a total of 288k when it comes to balance.
Private investors, on the other hand, hold a total of 16.65 million BTC. These are the biggest signs of retail dominance that are spot on for now. As their stake grows, the next rally can be led by retail investors.
Do private investors also take part?
On stock exchanges it can be seen that the sale is active on the market. At the moment, the whale’s balance sheet is close to its all-time high. Whale addresses with 100-10k BTC hold 49.1% of Bitcoin’s supply. This shows that from their end the sale is next to nonexistent.
Of course, since whales don’t sell, all sales in the market come from retailers. This is a strong sign of participation. Speaking of participation: In order for retail to be successful, zero balance addresses (ZBA) must be dismantled.
Addresses with a balance currently amount to 35 million, while ZBA is 838 million. This dominance is ruining the potential for serious growth in the retail segment, which is critical to the Bull Run.