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Investors Are Getting Back into Bitcoin at Highest Level in 2 Years

Mon, 12/12/2022 - 09:14
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Gamza Khanzadaev
Big money back in Bitcoin at highest level since 2020
Investors Are Getting Back into Bitcoin at Highest Level in 2 Years
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According to crypto analytics portal Santiment, the number of addresses holding between 10 and 1,000 BTC has reached a record high since 2020. Nicknamed whales and sharks, these investors have increased the size of their positions by 5.4% over the past nine months, bringing the total number of wallets of this size to 151,100.

There is no paradox in setting such a record during a deep correction on the crypto market. The growth in the number of wallets actively accumulating Bitcoin is directly related to its price, which is now at a two-year low and is affordable.

It is also noteworthy that almost exactly two years ago Bitcoin rushed from these levels to $60,000 per token, but looking at the chart, the difference between then and now is obvious. In 2020, BTC was in an upward trend and was breaking through new heights, while now the movement is the exact opposite.

Crypto Fear and Greed Index Might Be Hinting at Another Plunge

What could hinder Bitcoin investors' plans?

The new week brings with it a number of important developments from the world of macroeconomics and traditional finance, to which the crypto market has become so inappropriately attached with the arrival of big money.

Bitcoin Holders Will Get Richer as Big Crash Comes Closer, "Rich Dad, Poor Dad" Author Says

Thus, as early as Tuesday, U.S. inflation data will be released. Then, on Wednesday, there will be a Fed meeting, and investors will find out the Fed's rate decision.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.