From ceiling to floor – The number of millionaires Bitcoin (BTC) it has plummeted since the cryptocurrency price began a long decline after reaching an all-time high in the final quarter of last year.
Bears are bleeding Crypto Millionaires’ Bitcoin wallets
They were at a high of 29,497 on September 28. According to data compiled by Finbold, the number of registered Bitcoin millionaires a drop of 70.23%in the first three quarters of this year.
Statistics from BitInfoCharts.com indicate that 25,395 addresses had a balance of over $ 1 million in Bitcoin, and the combined balance of 4,102 other addresses was approximately $ 10 million at the end of the day to the end of the third quarter.
The number of millionaire BTC addresses was close to 100,000 at the start of the year. 99,092 addresses held at least $ 1 million in Bitcoin on January 5, 2022, according to data collected using the Wayback Machinewhich is used to access website archives.
Crypto Winter lingers, hopes lie in the falling dollar
Unsurprisingly, bear markets haven’t spared the Bitcoin whales this year. But the losses are even more importantwhen the balances of the affected addresses at the end of the third quarter of this year are compared with those of October 2021. On October 28 last year, 116,139 addresses held at least $ 1 million in Bitcoin.
Bitcoin had reached an all-time high near $ 69,000 in November 2021. At the time of writing, it is trading at $ 20,540. Its course has thus collapsed about 70%, since it reached that peak last year.
Although the price of Bitcoin has it rebounded above $ 20,000 recentlyDoubts remain about a bullish continuity, which could mark the beginning of spring for cryptocurrency markets in general.
Some observers hope that the US Federal Reserve (FED) decreases the scale of successive increments interest rates, a pivot that could benefit risky assets and which would then fuel a long climb towards $ 30,000.
In general, markets closely follow the evolution of the macroeconomic environment, which could be both benefit from Bitcoin at the expense of the dollaror produce the opposite result.
The number of Bitcoin millionaires is likely to decline further, if forecasts of as low as $ 14,000 materialized by the end of this year.
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