1 million new Bitcoin wallet addresses created in November will retail investors return?

Can retail investors return to Bitcoin? Glassnode data shows that 913,000 new Bitcoin addresses were created in November.

Analyst “On-Chain College” has divide Data on retail investor interest and potential beginnings of wider adoption. The bottom line for the year is that up to 1 million new people joined the BTC network in November.

Despite the short-term bearish price movement, the data on Twitter shows that the macro outlook for  remains good. According to the graphic below, the number of wallet addresses with credit balances greater than zero tended to increase from 30 million to 40 million between June 2020 and December 2021.

As described by Glassnode, a non-zero balance index is the number of unique addresses that contain a positive (non-zero) amount of coins. As this number tends to increase, new users are joining the Bitcoin network.

When the trend is down, as shown in the orange line on the chart from May to July of this year, it shows that users are withdrawing their BTC or selling it to 0. As a result, the decline in the wallet address is a bearish indicator of action.

For those new to November, this raises two questions: is this just an anomaly fueled by excitement after recently hitting an all-time high (ATH)? Is it the start of a broader trend?

It’s nice to consider that with Thanksgiving, Noel, and the fear of the Omicron variant in November and December, potential investors will have more options to research Bitcoin and possibly invest in Bitcoin.

December reports support this view, with the balance on wallets below 1 BTC – typically retail investors – hitting its highest level since March 2020.

However, caution should be exercised about the future of retail. William Clemente was tweets Chart series with the message “The interest of private investors in Bitcoin has fallen significantly since the spring”.

Additional retail proof is required. Although it was reported in October that institutional investors were buying bitcoin more than gold, Google Trends search data for “bitcoin” is only a quarter of its December 2017 high. Apparently, retail investors don’t really have FOMO yet.

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