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- The Bitcoin network has crossed the 1 billion mark.
- There are a total of 1,000,002,559 bitcoin wallets.
- Bitcoin’s price is $19,700, which is a 4% drop in the last 24 hours.
The Grand Milestone
This year has proved to be one of the worst bear markets in the history of cryptocurrencies, especially the bitcoin network. Surprisingly, despite these high amounts of volatility, the bitcoin network has shown pretty good results in terms of market activity. A major reason for this massive growth in this industry is the number of added crypto wallets in the bitcoin network.
Some news for all the Bitcoin enthusiasts out there! Finally, the number of Bitcoin wallets has crossed the 1 billion mark. According to sources, there are a total of 1,000,002,559 bitcoin wallets. It is a common fact that the recent trends in the bitcoin market have made investors lose interest in the crypto industry. Finally, the bitcoin network is recovering, and the price points of the most famous currency is becoming a point of interest for many retail investors.
Buying The Dip
One of the most famous investment strategies is ‘buying the dip.’ This is especially advisable to investors who want to make profits in the long term. Many investors are trying to hold bitcoin for the long term right now. This is a reason for this sudden surge in the bitcoin network. Bitcoin was struggling for a long time to have sustainability higher than $20,000. Bitcoin network, right now, is at $19,700, which is a 4% drop in the last 24 hours.
It is important to note that the data only shows us the number of bitcoin addresses/ bitcoin wallets. It does not tell us anything about the people who have the coin. A correct way to measure the data should be through the user count attracted to the currency.
This is because users may have multiple bitcoin wallets and the 1 billion mark proves the increasing adoption and popularity of the coin.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
