Wholecoid addresses with more than 1 Bitcoin since 2016 doubled

Wholecoid addresses with more than 1 Bitcoin since 2016 doubled

According to the on-chain analytics provider Glassnode, there are almost a million addresses that have more than one bitcoin. In addition, the number of "wholecoids" addresses has doubled since around mid-2016.

During the highlight of the last cycle, it reached a plateau of just over 800,000 addresses, but rose during the cycle low in the late 2022 and 2023 when investors accumulated.

This statistics are remarkable because there are more than 56 million millionaires worldwide.

Since BTC is traded at around $ 28,000, it will take some time until there is one COON will make an owner a millionaire!

Binance CEO Changpeng Zhao, who was the victim of fake news this week, made the observation on April 6th.

There are more than 56 million millionaires in the world and only 1 million people with more than 1 bitcoin. Calculate. https://t.co/k7gwntrzkf 5. April 2023

Bitcoin shortage leads to demand

Another observation that crypto supporters like to make is the division of the overall offer of bitcoins by the world population. This corresponds to about 0.002616 BTC per person, i.e. those who have more than one Coin are really a rarity.

The scarcity of the wealth value with its finite offer was traditionally a driver of demand. This has been clearly shown in earlier cycles that are catalyzed by halving events.

The next Bitcoin Halving is due between April and May 2024, depending on which counter is referred to. The current block premium of 6.25 BTC is halved to 3.125 BTC, which reduces the output and makes the asset scarcer.

The Bitcoin markets have already reached a transition or turning point, as reported by cryptopotato . If the story rhymes, the slow grind will probably continue upwards this year.

The actual House-Sense rally should follow the halving event and take place in the second half of 2024 if you can rely on previous cycles.

Glassnode has just added the Bitcoin fear and greed index to its charts to determine the market mood and compare it with earlier maximum and lows.

The mood is currently in a state of “greed” after Bitcoin has increased by 25 % last month.

We recently added the #bitcoin Fear and greed index, which is now firmly in the Greed territory.

will this rally push

or from resistances such as March 2020 or the debt reduction 2022?

📊https: //t.co/89w49ukxnc pic.twitter.com/k8npbmigtm

-Glasknot (@Glasknote) 5. April 2023

BTC price view

Bitcoin prices have been consolidated for almost three weeks, with very little movement since March 18th.

According to Coingecko, the asset fell by 1.4 % to $ 28,094 at the time of the writing of this article. The support is $ 27,000, where it fell on March 28th, and the longer -term resistance is $ 30,000, a prize that has not been visited since the beginning of June.

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