Bitcoin Investment Returns Are At Their Highest Level In Two Years
Santiment, a crypto analytics website, reports that since 2020, there have been a record amount of addresses holding between 10 and 1,000 Bitcoin.
These investors, often known as whales and sharks, have grown the amount of their holdings by 5.4% over the last nine months, bringing the total number of wallets of this size to 151,100.
Setting such a record during a significant correction in the cryptocurrency market is not paradoxical. The price of Bitcoin, which is currently at a two-year low and is cheap, strongly correlates to the growth in the number of wallets actively acquiring Bitcoin.
It’s also worth noting that Bitcoin jumped from these levels to $60,000 per token almost precisely two years ago, yet if you look at the chart, the difference between then and now is clear. BTC was on an upward trend and reaching new heights in 2020, but the momentum is now quite the contrary.
What could hinder Bitcoin investors’ plans?
The beginning of a new week heralds a number of significant advancements in traditional finance and macroeconomics, to which the cryptocurrency market has become inexplicably tied since the influx of large sums of cash.
Thus, figures on US inflation will be made public as soon as Tuesday. The Fed will then meet on Wednesday, at which time the rate decision will be revealed to investors.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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