The data shows that since the 2020 coronavirus crash, more and more people, no matter how rich, are buying Bitcoin (BTC).
Statistician Willy Woo pointed to the growth in both high and low-value wallets.
Woo: “whales boosted Bitcoin numbers”
Bitcoin whales continue to grow in terms of Bitcoin in their control, according to data from Glassnode, a monitoring source within the chain.
The number of whales has already reached a record high.
“Many people doubt that there can be a protection when they look at the price of bitcoin, ” Woo said. High net worth individuals and funds think this is true. “
“Since the last round of supply expansion of the dollar, the whales have increased Bitcoin numbers significantly.”
Bitcoin, which lost 50 percent in the March crash and then managed to hold on to high levels, is attracting attention as a possible safe haven. The steady and unchanging supply of bitcoin remains one of the key talking points, as the US M2 money supply is steadily growing.
It’s not just whales who feel the need to invest in bitcoin. Smaller wallets show net growth in” plankton.”
Inactive Bitcoin supply rises
There have also been signs of clustering in the current savings. The proportion of total bitcoin supplies over the past three years saw a record 30.9 percent on Tuesday.
On the other hand, as users turn to their wallets, the exchanges ‘ Bitcoin reserves continue to dwindle. Under cryptoquant’s new measure, investors prefer to buy Bitcoins at $10,000 rather than sell them.
PlanB said Bitcoin continued its upward trend despite losing 15 percent last week.
The cryptocurrency’s 200-week moving average continues to grow by about $200 a month without a drop. The BTC / USD pair has never closed the month below the 200-week moving average before.
On the other hand, the hash rate of the Bitcoin network is forecast to break the record of 150 EH / S after a small difficulty drop of 1.21 percent on September 7.