Bitcoin (BTC) has risen more than 1,000% since March 2020 and this shows that the digital asset has outperformed traditional asset classes like equities, commodities and bonds by a massive margin.
The resilience of Bitcoin even after the sharp rally continues to attract buyers. Jarvis Labs analyst Ben Lilly said the whales who hold between 100 to 1,000 Bitcoin have added about 63,000 Bitcoin in their combined holdings since Feb. 28.
The activities of this group of whales are worth monitoring because Lilly said “this class of wallets were the ones that timed the 2017 rally the best.”
In addition to the whales, Bitcoin adoption by companies also continues to increase. RushOrderTees, a t-shirt printing and embroidering company, recently revealed it had purchased roughly $300,000 worth of Bitcoin and other cryptocurrencies in the past month and they intend to increase it to $1 million by the end of April.
This shows that even smaller firms are shifting part of their treasury assets from fiat to cryptocurrency. If this trend catches up, it could soon add a new class of investors to the crypto sector.
Let’s study the charts of the top-5 cryptocurrencies that may outperform the others in the next few days.
Bitcoin resumed its uptrend on March 13 when it soared above the all-time high at $58,341. The bears will now try to pull the price back below the breakout level and trap the aggressive