Number of active bitcoin wallets hits last year’s high
CONTENT

  • The number of wallets continues to increase even after the fall in the price of MTC

  • Along with the growth of wallets, the number of transactions increases

  • Traders and investors start wallets ahead of Bitcoin halving

Number of active bitcoin wallets ...

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Despite the continued panic in the market caused by the spread of the coronavirus epidemic, the number of active Bitcoin users continues to increase. For example, in April this figure exceeded 260 thousand wallets, on the accounts of which cryptocurrencies are stored less than $ 8000..

Cryptocurrency remains popular

 

According to the research, the number of active wallets approached the July 2019 mark, when the cryptocurrency boom was taking place in the market, and investors were actively investing in cryptocurrencies. For example, in July last year, the number of active bitcoin wallets reached 280 thousand.At the same time, there was a cryptocurrency worth over $ 10,000 in the storages..

Number of active bitcoin wallets ...

As the price of MTC fell, the number of active wallets also decreased, and investors began to actively withdraw money. In January 2020, the number of bitcoin wallets fell to 200 thousand, and then the graph showed a rapid growth. Most likely, such activity was caused by the increase in the value of the cryptocurrency and reaching its mark of $ 10,000 apiece..

Despite the March “Bloody Thursday”, at the time of which there was a large-scale sale of cryptocurrency, the number of active cryptocurrency wallets continues to increase. In many respects, such dynamics can be associated with an increase in the interest of retail and institutional investors in cryptocurrencies, as well as with the approach of Bitcoin halving, after which the reward for the mined block will be halved..

Most likely, investors and traders are waiting for the moment of an increase in the value of MTC after halving, so they are already opening bitcoin wallets and buying the cheaper bitcoin. As trader Kim Kelevra predicted in one of his exclusive interviews with BeInCrypto, the cost of bitcoin could rise to $ 10,000 or more..

The number of transactions is also growing

 

Along with the growth in the number of bitcoin wallets, the number of transactions is also increasing. In the last week alone, more than 292 thousand transactions were carried out on the bitcoin network. Such a surge in activity indicates a recovery in the cryptocurrency market and even its revival in anticipation of the upcoming halving.

The number of whales with a balance of bitcoin wallets over 10,000 BTC

Crypto enthusiasts expect the market to recover immediately after the halving, because, according to experts, the cost of bitcoin should increase significantly.

 

 

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