Lark Davis, a crypto-bull, claims that Bitcoin’s “Mega OG Whales” are now accumulating the most coins.
Lark Davis, a long-time crypto enthusiast, tweeted that the largest purchasers of Bitcoin right now are “meg OG whales” and people with less than 1 BTC who know that this moment is their final opportunity to obtain a complete coin. To prove his claim, the Twitter user tweeted a screenshot of Bitcoin’s latest exchange outflow record, along with a snarky “probably nothing.” He said that some individuals comprehend that there will only ever be 21 million BTC in circulation. They are obtaining a piece of the pie before it is too late.
The biggest buyers of #bitcoin right now are mega OG whales, and those with less than 1 BTC who KNOW that this period is their last chance to get a whole coin! pic.twitter.com/xCu9RhIDAO
— Lark Davis (@TheCryptoLark) July 5, 2022
Davis also presented and shared a graphic that demonstrates how the balance of Bitcoin on exchanges is still decreasing. According to the chart shared by the famous crypto influencer. Almost 150K BTC left exchanges which is the largest BTC exchange outflow recorded.
Largest #bitcoin exchange outflow on record.
Probably nothing… pic.twitter.com/JaIcnAa2Tz
— Lark Davis (@TheCryptoLark) July 5, 2022
Recent statements made by Davis indicate that the question of whether Bitcoin will reach $10,000 in value should not be the primary emphasis. Instead, one needs to concentrate on the downward trend line that has been developing since 2017. He gave an explanation for his actions: The ongoing bear market has been able to defy the majority of historical models.
After Bitcoin’s price dropped below $18,000 on June 18th, bears were able to push it down to $17,592 in an attempt to retest the low that was reached in December of 2020, which was $17,569. If sellers are unable to break below this level, purchasers are able to push prices higher until hitting a wall of resistance at $21,000, according to Davis.
#bitcoin breaking out of the triangle!
Watch for key resistance around $21,800 (purple box) pic.twitter.com/UoRyxKPQfm
— Lark Davis (@TheCryptoLark) July 4, 2022
Lark Davis with 1M Twitter followers is from New Zealand, and he uses his channel on YouTube to provide information to his audience as well as make suggestions. Lark educates his audience on how to earn money with Bitcoin and also hosts Q&A sessions in which notable people in the cryptocurrency world answer audience questions. The number of subscribers who are now subscribed to Lark Davis’s channel on YouTube is 487,000.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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