The Number of Bitcoin Addresses Holding At Least 1 BTC Has Declined
Whales prefer to hold their assets one by one, following the selling pressure that took place earlier this week. The number of people holding at least 1 Bitcoin (BTC) in their wallet dropped by only 1,000 yesterday. Presumably as a reflection of Bitcoin falling from $ 18,700 to $ 17,100 on the night of November 25, whales prefer to act this way.
This collapse may have occurred after the founder of OKEx was released from custody, and when the $ 1.3 billion Bitcoin options expired during the day yesterday. As of writing, Bitcoin is being traded at $ 17,893.
According to data provided by the cryptocurrency analytics company Glassnode, the price of the leading cryptocurrency has increased exponentially and the number of addresses holding at least one BTC is growing more slowly parallel to the Bitcoin boom in 2017.
For example, when prices collapsed in 2014, the number of addresses holding 1 BTC also exploded. In September this year, with the increase of Bitcoin, the number of addresses holding at least 1 BTC dropped by almost 15,000.
For this reason, some analysts believe that Bitcoin will realize its potential rise and rise again to its all-time high of about $ 20,000, just because of this situation.