Losing Bitcoin Addresses Hit An All-time High
New data shows how much pain the average holders experience after their worst monthly losses since 2011.
According to online monitoring firm Glassnode, the weekly number of unique Bitcoin addresses that suffered losses hit a new all-time high of 18.8 million on July 3.
On-Chain College analytics account summary:
“Some have quit, some have stuck around. One thing is for sure- if you’ve been in this space over the last year and you’re still here, you’ve been through quite a lot of volatility.”
Up or down, incoming volatility was being keenly eyed by commentators as the weekly close drew near. Popular analyst Matthew Hyland noted that the Bollinger bands indicator of Bitcoin was signaling that price conditions would soon become more erratic.
Momentum remained weak throughout the following week’s Wall Street trading, however, and traders were unconvinced about the potential for a significant relief bounce. Popular Twitter account Crypto Tony wrote in an update to followers on the day
At the time of writing, BTC is trading at $19,100.
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Harold
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