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Is This 1 New Reason to Buy Bitcoin, or 1 New Reason to Be Cautious?
With so many different forces affecting its value at all times, it's remarkable that Bitcoin's (CRYPTO: BTC) price isn't even more volatile. So when there's significant purchasing action by a large holder that claims to want to hold on to its hoard of the coin forever, like there has been over the last couple of weeks, it's worth paying attention to.After all, high-profile buying could be interpreted as a tailwind for higher prices. Or it could be viewed as a risk, since it might precede later news of the same actor ditching its position for greener pastures.With those dynamics in mind, let's break down who's buying it right now and why it could be an important factor in the coin's performance over the coming years.Continue reading
With so many different forces affecting its value at all times, it's remarkable that Bitcoin's (CRYPTO: BTC) price isn't even more volatile. So when there's significant purchasing action by a large holder that claims to want to hold on to its hoard of the coin forever, like there has been over the last couple of weeks, it's worth paying attention to.
After all, high-profile buying could be interpreted as a tailwind for higher prices. Or it could be viewed as a risk, since it might precede later news of the same actor ditching its position for greener pastures.
With those dynamics in mind, let's break down who's buying it right now and why it could be an important factor in the coin's performance over the coming years.
