Number of people who own 1 BTC approaches one million

Number of people who own 1 BTC approaches one million

By Shadow Crypto | Shadow | 10 Jul 2020


Number of people who own 1 BTC approaches one million

 

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'HODLing' strategy at BTC has intensified in post-halving

Two months after Bitcoin halving, the amount of addresses with quite 1 BTC continues to extend . This trend has continued since the market crash on ‘Black Thursday’ in March, which had a catastrophic impact on stocks and cryptocurrencies as both markets reached deep levels of asset prices. However, several months later, Bitcoin recovered strongly - and rose quite 43% within the second quarter of 2020.

Strong potential for interest has always attracted many new investors who gradually increase their Bitcoin stock. Currently, the amount of addresses with one or more BTC is approaching on the brink of 1 million, consistent with data from Glassnode.

Bitcoin Addresses Holding Over 1 BTC Nears a million

Bitcoin Addresses Holding Over 1 BTC Nears One Million

Source: Glassnode

According to some key industry executives within the crypto space, the worth of BTC could reach $ 50,000 compared to the post-halving euphoria. Many experts predict a future upward trend, which may be seen later this year. However, there's always a healthy degree of skepticism about overly optimistic projections.

The rise in interest in cryptocurrencies also occurs amid high uncertainty surrounding the S&P 500 and therefore the way forward for the worldwide economy, especially as rumors arise a few new level of pandemic martyrs. additionally , because the printing of paper money becomes the sole thanks to save the economy, inflationary risk is getting closer and closer.

That's why it isn't surprising that the keenness surrounding Bitcoin has peaked. And not without reason: the huge whale withdrawals from the most exchanges point to the primary signs of subsequent upward trend, and therefore the growing popularity of the ‘HODLing’ strategy are often interpreted as a positive sign.

While growing interest involves altcoins, Bitcoin can take better advantage of political and economic uncertainty, because it already has the substantial potential to outperform gold.

 

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