Number of Cryptocurrency Wallets Owning 1 Bitcoin or More Hits New Record

  • Over the current market deterioration, the number of people owning 1 Bitcoin nears one million.
  • They were looking into the Bitcoin market and saw a spurt in its users after the Bitcoin halving event.

Over the current market deterioration, the number of people owning 1 Bitcoin nears one million. This number suggested by the major blockchain analytics firm namely, the Glassnode

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They were looking into the Bitcoin market and saw a spurt in its users after the Bitcoin halving event. This Bitcoin halving event was held nearly two months back. 

Wallets are an absolute necessity for cryptocurrency users. Their creation depicts how fast the popularity of decentralized money is growing. This number has been increasing exponentially ever since the ‘Black Thursday’ – the event where the cryptocurrency market crashed in the month of March. This crash had disastrous consequences on stocks and cryptocurrencies as well. 

However, the Bitcoin being very resilient has strongly bounced back. It has come back even harder and is up and over 43 percent in the second quarter of 2020. 

Reason for the rise in Bitcoin users

The reason for the increase in the number of Bitcoin has to be credited to the lucrative and alluring schemes presented to the new investors. These investors then slowly and gently increase their Bitcoin stash. 

According to the reports, BTC price can go as high as $50,000 in the face of post – halving jubilation. Many experts have opined that later this year we may see a bullish trend on Bitcoins. This is quite evident by looking at the figures. The facts and figures show that since March, the number of Bitcoin wallets holding one or more Bitcoins has added more than 60,000 addresses. 

Predicting the trend

According to a survey, around 6.2 percent of Americans own Bitcoins while some 7.3 percent are still planning on investing in it. This survey was conducted with 5000 Americans between the ages of 18 –65. Moreover, there have been many different predictions as well. These predictions range from negative to highly optimistic. No wonder there are some limitations that the cryptocurrency faces right now. However, with development in technology, these obstacles can also be overcome.

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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