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Bitcoin Long-Term Perspective Among Investors Remains Strong: Analytics Report

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Wed, 07/14/2021 - 13:28
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Yuri Molchan
Recent tweet from IntoTheBlock team shows that investors remain positive on Bitcoin in the long term and keep setting up new crypto wallets
Bitcoin Long-Term Perspective Among Investors Remains Strong: Analytics Report
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Data shared by the IntoTheBlock analytics vendor states that Bitcoin investors are still bullish long-term toward the flagship digital currency, although BTC has failed to recover the $40,000 level so far.

Besides that, the number of Bitcoin that holders have been storing for over one year has seen a major rise.

Number of Bitcoin wallets holding over one year hits ATH

The IntoTheBlock team has tweeted that the number of Bitcoin investors who have been holding the biggest cryptocurrency by market cap has increased to a new all-time high.

Further, the number of those wallets is up almost two percent since May.

As reported by U.Today earlier, data shared by Glassnode shows that Bitcoin balances on crypto exchanges have been melting recently as investors withdraw BTC in massive amounts and put it into cold storage vaults.

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Leading analyst names crucial level for Bitcoin to take

Prominent crypto analyst and trader based in Amsterdam, Michael van de Poppe, believes that the major digital currency needs to break above the $32,600 level in order to put up any further rise.

If Bitcoin manages to recover this crucial zone, the next one is likely to be $34,500, the analyst tweeted.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.