Bitcoin (BTC) may need a few more months to recover from its recent collapse.
Bitcoin (BTC) investors accumulate a lot of cryptocurrency despite the downtrend, which can be a positive sign for the crypto macro benchmark. Look at the number of investors who have more than 1 BTC – commonly referred to as “wholecoiners” – that have skyrocketed over the past few weeks.
The last few weeks have been difficult for Bitcoin and the aggregated cryptocurrency market, with BTC and most other major Altcoins tumbled from the highest levels of 2020 at the end of February in a trend that has been perpetuated by weaknesses in global markets.
But selling has shifted investor sentiment to vary Bearish, it seems retail investors still have confidence underlying Bitcoin’s long-term prospects, because data shows that the number of wallet addresses holding more than 1 BTC has just touched an all-time high.
Glassnode, a leading cryptocurrency research and analytics company, on this matter from Glassnode data obtained when this post was made reaching 788,189 million wallets containing more than 1 Bitcoin.
image sourece ; https://studio.glassnode.com/metrics?a=BTC&m=addresses.Min1Count
This shows that despite the obvious weaknesses of the market, investors and traders are still very very interested in Bitcoin. Then what about you? Are you included here and still choose Bitcoin as a good investment choice for the future?
– bitcoin logo source : 