At the beginning of this year, there have been news surrounding big financial institutions like Goldman Sachs as well as government officials in a lot of countries secretly buying cryptocurrencies. Normally this would not happen so fast. But if you look at the global economy and the state of the markets overall, you will see the big picture and what these people are trying to do. They are accumulating now because cryptomarket sentiment is at its weakest point. They know how to use their dirty tactics to scare off most of these first time investors and buy cheap cryptocurrencies.
Coins like Bitcoin (BTC) and Ethereum Classic (ETC) are important to these whales because they are stores of value and inflation proof. There will always be another TRON (TRX) or another Stellar (XLM) but we are not going to see another Bitcoin or Ethereum Classic anytime soon. Maybe never. Now, these big investors are not much interested in Ethereum (ETH) because it is not inflation proof just like their fiat money. They are mostly interested in coins that have a limited supply and are rare. Coins that will appreciate enormously in value in the next 3-5 years, they want them now, as much as they can get.
Here are five very solid reasons why I think they are rushing to accumulate now:
1. They are afraid cryptocurrencies are going to put them out of business. So, they want to join the business before it’s too late.
2. The state of financial markets is terrible and the next crisis is at door so they are looking for a safe exit.
3. The cryptomarket is fairly nascent and they want to accumulate as much as they can in order to dominate it for future.
4. They can see now that blockchain is the future so they don’t want to be late to the party.
5. There is a lot of fear in the market and they know they can use it to scare off weak hands and buy low.
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This article is published with some updates and contributed by Fakhan
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Disclaimer: Cryptocurrencies investments are full of speculative and market risks. This article is only for information purposes and not an investment advice. Please conduct your own thorough research before investing.