Hello!
As I said yesterday I have been playing with Glassnode Studio, a tool that tracks Blockchain market indicators and Blockchain useful information. As they say:
Glassnode makes blockchain data accessible for everyone
I Signed Up for a free account just with my name and email and played with some Bitcoin and Ethereum metrics. I love to see the metrics that track, wallets, number of HODLers, etc. I think this are the true and valid indicators to see the evolution of this new asset class over time. I prefer this a thousand times before any price technical analysis.
We are really early on this game, I prefer to zoom out and see if the value proposition of Bitcoin is being really used for the average investor.
Number of Bitcoin Wallets with 1 Bitcoin or more
There are just 800,000 Wallets that are HODLing 1 BTC or more. This number is really low if we compare to the world population, or even the advanced world population that could literally do that at any time.
It means that if you are a HODLer of 1 Bitcoin you are part of a really really selected number of people, and this could result in huge profits in the long run.
With this graph you can also see that the amount of Addresses is flattening as the inflation of new Bitcoins is lower. If you take look at the 2 year periods:
- From 2016-2018 there are 200,000 new addresses
- From 2018-2020 there are 100,000 new addresses
The amount of new addresses is reduced by 50% in the last 2 years!
This could mean 2 things:
- People is losing interest in Bitcoin: I don't think so.
- Is getting harder and harder to HODL 1 Bitcoin.
Here the graph:
Don't tell me that I didn't call that this is getting really hot. The long term bullish signal seems irreversible. It is getting harder and harder to HODL 1 Bitcoin and time is in our side.
Be patient and this will all pay off.
Enjoy! 🐝
