“Greed is good” reckoned Wall Street’s Gordon Gekko. “Be greedy when others are fearful,” noted Warren Buffett. And, while, they’re obviously lesser known, Glassnode blockchain analytics gurus are expressing a similar sentiment at present.

Glassnode is one of the leading analytics firms studying blockchain activity, and when it and its co-founders show the level of conviction displayed in some of their recent tweets, it might be worth paying some attention.

The firm’s Swiss founders, Yann Alleman and Jan Happel, run a popular Twitter account, in which they share snippets of Glassnode’s latest data analysis, including interesting whale (big asset holder) movements, and potentially bearish and bullish signals.

In fact, the two founders’ account, @Negentropic_ , quoted the old Buffett adage the other day…

We noted earlier today in our morning crypto roundup Mooners & Shakers that we’ve been seeing a prevalence of short-midterm bearish views across Crypto Twitter. And that’s still true, however, the Glassnode data is encouraging for those still leaning bullish.

In Alleman and Happel’s latest “Swiss Block” newsletter, they ponder, with the price of BTC dipping below US$27k over the past few days: “Could this be the leg down needed for the ride up to $35k?”

They also note, however, that US$25k is still a possibility, but that they believe it is the “hard bottom” and their mid-term outlook of US$35k is still in play.

And that’s due, they note, to the distinct possibility of a Fed rate hikes pause in June, and the US dollar trending down over the past few months. “Explosive moves ahead”, they further predict in the tweet below.

 

Bitcoin ‘wholecoiners’ on the rise

Gleaning a bit more from Glassnode’s latest analysis, we also see another encouraging sign, which is the fact that “wholecoiner” addresses – that is, Bitcoin addresses holding 1 BTC or more – are on the increase.

This niche demograph has just hit the one million mark for the first time – more than double the amount of such addresses seen around mid-2016.

It’s a pretty clear indication that high-conviction BTC holders have indeed been taking the opportunity to “buy when there is blood in the streets”.

At the time of writing, Bitcoin (BTC) has made a surge back over the $27k mark once again, changing hands for US$27,245, according to CoinGecko.com.

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