According to BlockBeats news on August 25, crypto analyst Willy Woo tweeted, 'Why has Bitcoin's rise been so slow in this cycle? The supply of Bitcoin is primarily concentrated in the hands of ancient whales, who peaked in holdings around 2011. At that time, Bitcoin was purchased for $10 or less. Now, every time they sell 1 BTC, the market needs over $110,000 in new capital to absorb it.'
The differences in cost bases, the supply they hold, and the speed at which they sell have had a profound impact on how much new capital is needed to drive up prices. This can be seen as the growing pains Bitcoin is experiencing, until these investors who have already gained 10,000 times are fully absorbed by the market.
