25 April, 2024



What’s Next for Bitcoin? Will It Break Higher Soon?

12 Dec, 2022

22 Nov, 2023

Bitcoin’s growing affordability has led to an increase in the number of addresses holding between 10 and 1,000 $BTC. As of today, there are 151,080 such addresses – a staggering rise from the low point reached in December 2020.

This surge in Bitcoin address ownership indicates that more people are looking to invest small amounts in what is widely seen as a safe-haven asset. Bitcoin’s growing popularity is being driven by its decentralized nature, which makes it immune to the whims of governments and banks, as well as its fixed supply which means that its value can only go up in the long run.

It is interesting to note that the increase in smallholders has not been matched by larger holders. The number of addresses holding between 1000 and 10,000 $BTC has remained relatively steady over the past year, indicating that those who were already invested in Bitcoin have mostly held onto their positions. This may be due to a combination of factors such as trust in Bitcoin’s long-term potential and hesitation to sell during uncertain times.

In any case, more and more people are taking advantage of the opportunity to invest in Bitcoin. This trend is likely to continue as the asset’s popularity continues to grow and its affordability increases further. With a strong foundation already set in place, the future looks bright for those looking to join the ranks of Bitcoin holders!

Regardless of the reason, it is clear that more people are taking advantage of the opportunity to invest in Bitcoin. This trend is likely to continue as the asset’s popularity continues to grow and its affordability increases further. With a strong foundation already set in place, the future looks bright for those looking to join the ranks of Bitcoin holders.

What does technicals suggest about BTC?

Technical analysis of Bitcoin suggests that it is in a strong uptrend, with current levels seeing higher highs and higher lows. This indicates that the asset is gaining traction as bullish sentiment grows among investors. Over the past few months, Bitcoin has managed to maintain its gains despite several corrections along the way. This shows that there is strong support for the asset at current levels and that there is potential for further appreciation soon.

Source: Tradingview

Some technical indicators such as the Relative Strength Index (RSI) are also suggesting that a bull run is imminent. All of these factors suggest that now may be an opportune time to invest in Bitcoin, particularly as it continues to attract more mainstream attention.

Bitcoin is currently trading at $17,181.61 and is expected to move higher in the coming weeks. Investors should therefore take advantage of this unique opportunity and take a position on Bitcoin before it reaches new heights.

Conclusion

The increasing number of Bitcoin holders in the 10-1000 $BTC range is a clear indication that the asset is becoming more accessible and popular. This trend is likely to continue as more people become aware of its potential and take advantage of its decentralized nature and limited supply. By doing so, they can secure a piece of the future for themselves and enjoy the potential benefits that Bitcoin may bring.

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