They are smart. They need quiet times. They need to have willing sellers. And how do they achieve that?
First step, they bring the ability to short or bet against the asset. This happened late December / early January 2018. Bitcoin started crashing since then.
But as you see, the amount of holders is longer than ever.
There are only weak hands who sold. Weak by the definition of David and Goliath... Banks have money and almost infinite patience... while us... regular guys have to feed ourselves and support single moms while dancing :)
But there is one hint that gives it all away.
Institutions are preparing to enter in crypto big time, and then, it will all happen at once and make:
The Final Bull Run!
Starbucks making partnerships, Pornhub accepting crypto, Bakkt smartly delaying although they seem ready... most important mass-scale adoption bitcoin Layer2 developments are scheduled for this year... and on Jan 14th 2019 the major Swiss bank Vontobel has launched the crypto custody tools for banks and financial institutions.
We talk about multi-billion dollar guys.
And what about Bitmain?
These guys became dinosaurs... they failed to evolve on time. Yes, Bitcoin worked for 10 years based on principle of buy or sell, without 'betting against'... and now they couldn't evolve with the trend. It hurt us all, but major slow institutions, funds, etc, went completely flat.
Bitmain changed Jihan Wu as CEO. I consider it a good news as he supported Bitcoin Cash that added fuel to this fire that got Bitcoin down from 62xx levels.
New miners, new companies will enter, allowing better, more friendly solutions. Bitcoin Cash is now dead, regardless of the charts - it is left with no competitive advantage and destined to keep on falling or growing slower than their competitors.
Remember, institutions buy when the things are quiet, and down - like these times. Yearly low in 2018 is at all time high for Bitcoin. That tells us, the holders are here, silently accumulating. Are you?