Bitcoin Reaches $41,000 In A Rally From Weekend Lows Of $39,000

Following the strong sell-off in December 2018, the total number of non-zero Bitcoin addresses has been climbing since March 2018. This sell-off picked up speed in March 2019, at the start of the current bull market. And, so far, despite price variations, this has frequently occurred. After falling as low as $37,000 over the weekend, the world’s largest cryptocurrency by market value recently broke beyond the $41,000 barrier. Bitcoin is currently trading at $39,421, as of this writing.

Bitcoin price rises beyond $41,000, recovering from weekend lows of $37,500

As major Asian equity markets open in the green at the start of Wednesday’s trading day, the market is anticipating the Fed’s decision.

The gain occurred as major Asian stock markets began in the green on Wednesday, reducing fears of a contagion effect from a US-China spat while investors awaited the release of Fed minutes.

On predictions that the Fed would raise interest rates by 25 basis points, Bitcoin and most other cryptocurrencies moved marginally higher. Despite a minor recovery, Bitcoin and the rest of the crypto market have stayed within their volatile ranges in recent weeks.

In another development, the number of new Bitcoin addresses reduces somewhat in April 2021, as BTC takes over the top slot. However, after falling, the price rose again, reaching a new all-time high of 9,663,021 on March 15. As a result, despite the current market drop, BTC interest is at an all-time high.

Over the last two years, addresses holding between 0.01 and 1 BTC have seen a steady increase. While these figures fell in June/July 2021, they have since recovered and are on their way to new all-time highs. As a result, modest accounts appear to steadily accumulate.

Medium-sized accounts, unlike small accounts, have been declining since 2017. This may be seen in both addresses with more than 10 BTC (red) and addresses with more than 100 BTC (green) ( yellow). Mid-sized investors have yet to reach new highs.

Although the number of medium-sized addresses has decreased, the number of addresses with more than 1,000 BTC and more than 10,000 BTC has changed a lot. While neither is at all-time highs, both are already rising in 2022.

In the case of addresses with more than 10,000 BTC (yellow), most of the increase occurred in September 2021 (black circle). In the case of those with more than 1,000 BTC (red), most of the growth happened in early March 2022 (red circle).

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