Bitcoin

Bitcoin is experiencing a change in the power relationship – more and more small investors own 1 BTC

While many people lose faith in bitcoin (BTC) during the crisis, others only become more confident. This has been clearly demonstrated over the past week as the number of bitcoin wallets containing at least one entire BTC has now grown to 13,091 wallets. The number of all so-called “Holecoiners” increases to 865,254 wallets.

As data from Glassnode (see below) shows, the crowd of “ganz-coiners” has clearly increased during the downtrend. A sign that at least some investors are viewing weak prices as a buying opportunity:

> Development of addresses with 1 BTC. Source: Glassnode

Christian Ander, founder of Swedish bitcoin exchange BT.CX, told Cointelegraph that “this development is good for the entire ecosystem because it allows it to grow from bottom to top, and it is the kind of economy we want, a bottom-up.” -up economy”. to which he adds:

“These people have a strong belief in the future of bitcoin and the added value of this currency.”

Over the past 10 days alone, more than 14,000 new Holcoiners have been added, confirming the trend. A development that sets the course for the future, as the supply of bitcoin is limited to a maximum of 21 million BTC. Anyone who can already secure an entire bitcoin is now putting themselves in the best position.

With the current price approaching $20,000, a rapidly growing number of Holcoiners suggests that retail investors are re-investing and taking advantage of the buying opportunity. This reading is supported by the fact that the number of wallet addresses holding at least 0.1 BTC (about $2,000) has also increased significantly over the past 10 days.

In contrast, the number of wallets holding more than 100 BTC has dropped from 136 addresses in the same period. From this it can be concluded that whales – ie big investors – are currently selling their bitcoins. Clear evidence for Ander’s thesis: The balance of power on the market is shifting in favor of smaller investors.

Source

Source

Show More

Related Articles

Check Also
Close
  • Bitcoin
    EUR closes against US dollar while USD index hits 20-year high – Economics Bitcoin News
Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker