- Despite the market dip, BTC holders are rising high.
- The number of Bitcoin addresses has set a new ATH of 848,082.
- Bitcoin’s current market value is $30,102.50 with a bear trend.
Even though the crypto market is bearish, the number of addresses holding at least one Bitcoin is spiking high achieving a new all-time high (ATH) of 848,082. It indicates that BTC holders are on the rise despite its struggle in the market. At present, Bitcoin is in the process of regaining its heights of the previous year.
Further, the reason behind the surging number of holders in the volatile market can be the large investors called whales. Since the price value of Bitcoin is sloping down, the users and the investors community are becoming BTC holders. Moreover, the whales are the one who are using these price falls to increase the value of their assets.
BTC Holders Rise Case
As Bitcoin (BTC) is the leading and largest cryptocurrency in the world, even its price fall cannot leverage most retail investors to become BTC holders. Moreover, the asset purchase by the whales enables the users and investors to own a portion of these digital currencies.
As a matter of fact, the current state of the crypto market and the downfall of the BTC provokes users to buy Bitcoins. Thus on the daily trend of the market and price fluctuations, the user addresses holding at least one coin is on spike. As of 2nd June 2022, the number of Bitcoin addresses with one Bitcoin and above hit an ATH of 848,082.
In addition, when there is a drop in the prices, people always tend to purchase the assets rather than selling it as it may end up in loss. But in a smarter way, when Bitcoin is making losses, investors will always opt a different plan. They withdraw their assets from exchanges and move their assets into private wallets.
Notably, Bitcoin is becoming a long term investment for many people around the world. Day by day, the digital asset is tending to be a store of value, at the most it is also called a digital gold. Furthermore, as is the bearish trend for BTC, there are high chances to purchase bitcoins until the price dip.
According to CoinMarketCap, the current market status of Bitcoin is $29,940.10 with a downfall of 3.92% in the last 24 hours.
