Ether Whales are Jumping For Bitcoin?

The recent Bitcoin halving has brought a lot of attention to the crypto community and massive activities were found before and during the halving. For others who did not know, Bitcoin halving is an event where block rewards for miners were reduced from 12.5 BTC to 6.25 BTC. This gives a major scare for bitcoin miners as profitability has decreased half-fold.

But despite of the halving, many are jumping for bitcoin. Many are expecting an increase in price since Bitcoin difficulty is getting harder. The only way to generate new bitcoins is through mining, in which the halving could mean scarcity for Bitcoin to be generated.

The Law of Supply and Demand clearly states that when there's a decrease in supply (the bitcoin halving) and demand increases (e.g. Ether whales jumping for btc), Bitcoin's price increases. Now I'm usually hesitant to this because the bitcoin halving causes a major scare for miners to start dumping all of their bitcoins and cease their operation. That sounds so scary taking a general look of it. But @paragism made an important post about it, so you should check it out.

https://static.coindesk.com/wp-content/uploads/2020/05/LArge-Ether-addresses-775x450.jpg?format=webp
_{Image courtesy of coindesk taken from Glassnode}

Going back, the chart above shows the number of whale addresses holding more than 10k Ether. Basically it's a monthly graph from March 2017 - May 2020 showing the number of Eth addresses holding greater than 10,000 Ethers. Though Eth's price have revamped this year, having 50% increase from last year. Seems like bitcoin is winning attention because of the recent bitcoin halving.