The price of Bitcoin has dropped significantly in recent months, with wallet addresses containing over one Bitcoin increasing by 30 percent during that time.
During the cryptocurrency bust, smaller Bitcoin (BTC) investors have discovered a unique chance to acquire their preferred cryptocurrency. Since the June slump, the number of “wholecoiners” has increased by 40,000.
According to LookintoBitcoin, the number of BTC “wholecoiners” has been steadily growing since January 31, when the BTC price was about $38,000.
In April, Bitcoin’s price fell by more than 25%, dropping from $2,900 to $1,300. During this time period (May-June), the number of unique addresses containing at least one whole Bitcoin rose by nearly 25%.
The current price of Bitcoin Cash is $23,035, down 64% from its ATH of $64,400 in November 2021, and the proportion of whole coiners has hit an all-time high of 891,346 as of August 1, 2022.
“A lot of people are achieving their whole coin objectives!” tweeted crypto investor Lark Davis on Monday.
However, the number of wallets containing more than 10 BTC, 100 BTC, and 1,000 BTC decreased or tumbled throughout the same period. The number of addresses with over 10 Bitcoin has risen by 600 since May; those with over 100 Bitcoin have fallen by 125, while those with over 1,000 Bitcoin have dropped by 113.
Despite the fact that Bitcoin’s price has risen significantly over the last several weeks, there are divergent viewpoints on whether it has already reached its bottom or if worse is yet to come.
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