The number of Bitcoin addresses with at least 1 BTC has reached a new historical high

The number of Bitcoin addresses with at least 1 BTC has reached a new historical high

Since the creation of Bitcoin in August 2008, the number of addresses containing at least one Bit has steadily increased, despite the increase in the price of the cryptocurrency since then.

Bitcoin bulls and bears are finally fighting for control

According to blockchain data and information provider Glassnode, the number of bitcoin wallets containing at least one BTC has reached a new record high. There are currently 824,193 BTC addresses that hold at least one Bitcoin, which currently has a price of $ 15,554. Today’s figure exceeds the previous record high of 824 160 people, was recorded on September 17 of this year.

However, cost is a significant factor that affects, for example, new high records. The price of the leading cryptocurrency increased by almost $ 3,500 in October alone. Since March 2020 (the collapse of the cryptocurrency market caused by the coronavirus pandemic), the price of Bitcoins has increased by about $10,000. The high cost of cryptocurrencies can cause such optimism, because an increasing number of whales acquire Bitcoin to earn more money.

But what causes Bitcoin’s growth is still a mystery. However, the four key factors that contribute to the price increase include the management of bitcoin itself (for example, halving the block reward), the COVID pandemic, political risk and uncertainty (for example, the results of the US election), and user investment.

Other cryptocurrencies have also experienced significant changes in their blockchain networks. For example, Glassnode data showed that the number of Ethereum addresses containing at least 100 coins (about $ 40,000) reached an all-time high of 53019. This is a significant increase, as the previous record was 52,943 on July 13, 2020.

The trend in which the” bitcoin rich list “ continues to reach new record highs reflects increased interest from institutions and wealthy investors. Since the COVID crisis, many investors have used Bitcoin and other crypto assets as an alternative to traditional markets.

This is a “very attractive” investment, which explains why several” very rich “ traders and investors turned to the PTS. Such bitcoin whales are large investors who can influence market trends, potentially increasing bullish pressure around the price. For example, when the payment giant PayPal announced support for Bitcoin, prices rose above $ 13,300.

Many will change their attitude to the crypt

This has been an exciting week for the leading cryptocurrency and the entire crypto space. According to Capriole Investments founder Charles Edwards, many people who ignore the flagship coin will change their minds by 2023.

Edwards is a professional expert in the crypto industry, compared to many other participants in the investment space, such as Peter Schiff and Warren Buffett, who are known to compare the coin to things like “rat poison”.

Speaking to Twitter, Edwards offered his opinion, emphasizing that many critics ‘ arguments focus on their logical position and their opinions on the risks associated with the leading cryptocurrency.

Bitcoin adoption this year seems to be growing at an exponential rate, as many institutions are involved in investing in the asset. The fact that BTC has been rising rapidly in price over the past few weeks pushes it even higher.

Many people believe that the us presidential election has had a big impact on the currency, and it remains to be seen how it will react to the results of the official presidential election.

But beyond that, the asset gets recognition everywhere. It will be interesting to see where the BTC goes in the next few years.

Source: https://news.bit.team/the-number-of-bitcoin-addresses-with-at-least-1-btc-has-reached-a-new-historical-high/

Official website: bit.team