Bitcoin is lingering around $31k these days and crypto enthusiasts believe that this is the best time to buy BTC.
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $31,546.12.
Check out an interesting opinion that’s been shared on Twitter these days.
Many of you are going to look back at this period and kick yourself for not buying bitcoin more aggressively.
Considering potential risks (relatively low) and opportunity (still extremely high), this may be one of the best periods in history to buy bitcoin.
— Dr Bitcoin MD (@DrBitcoinMD) July 19, 2021
Someone said: “I agree completely! Historians/People will wonder why so many didn’t see Bitcoin sooner, especially after recent institutional & even Nation state adoption now. The FUD is really thick though, so I guess it is just too hard for most people to properly sift through the shit.”
Another follower posted this: “Lightning network development, nation state adoption, billionaire advocacy, fiat inflation at record highs worldwide, financial instruments on Bitcoin (derivatives, futures, collateralization, loans), streaming money… Never been more de-risked relative to reward. Asymmetric.”
More crypto fans are saying that this is a great time to invest in Bitcoin.
Bitcoin bull market drivers
It’s been just revealed that the on-chain analyst Willy Woo said that there is a particular investor cohort that is driving the Bitcoin bull markets these days.
He is saying that small holders aka entities that are holding less than one BTC are4 continuously stacking Bitcoin as they are outpacing the selling of larger entities or whales.
Here’s what he said: “Chart: Weekly net flows to small holders (of less than 1 BTC). It’s retail that [drives] Bitcoin bull markets. When they stop buying, that’s a bear market warning. They haven’t stopped buying. Last 30 days: Whales sold [4,000] BTC, plebs [retail] bought [31,000] BTC.”