HomeBlockchainBitcoin: BTC addresses increase

Bitcoin: BTC addresses increase

According to data reported by Santiment’s platform, Bitcoin addresses are increasing alongside the price of the asset.

The chart also examines the number of Bitcoin stored in each wallet, in an attempt to understand how people have behaved with respect to its price, which only in mid-March was marking its lowest in 2020.

Bitcoin addresses and their behaviour

In the first range, which goes from 0 BTC to 0.1 BTC per wallet, it is clear that these have always been on the rise even if they decreased when the price of the asset reached the figure of 15 thousand dollars, so we can deduce that several people have preferred to liquidate the asset at that time.

The same pattern was followed by all those who had between 0.1 and 10 BTC: in fact, the first massive sale was around August, when the price had exceeded $11 thousand, while the second fall was in November when the price started to reach over $14 thousand. From the chart, we can see that these wallets are still selling.

The mini whales, that is the addresses that hold between 10 and 1000 BTC per wallet, instead, have followed a different trend and have sold during certain peaks. These mini whales seem to be increasing, just in anticipation of a further increase in the asset and therefore have preferred to stop selling but hold.

As for the whales, i.e. the addresses that hold over 1000 BTC, there was instead an accumulation just before the asset exceeded 12 thousand dollars, and since the end of October, they have always accumulated, showing that even with these high prices, whales continue to buy the asset in anticipation of an increase.

Certainly, with the price of Bitcoin continuing to rise, more and more people have decided to sell or buy depending on the size of their holdings.

The most common people with just a few fractions of Bitcoin have preferred to cash out and get rid of the asset at these levels, while instead, the bigger holders are betting that the asset can still go up in price and are multiplying their investment considerably.

Alfredo de Candia
Alfredo de Candia
Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.