While no one really enjoys seeing the bitcoin price fall, it does create an excellent opportunity to grow the number of BTC holders. As anyone can buy a fraction of a BTC, it is good to see the number of addresses holding over 0.01 BTC grow. In addition, hitting an all-time high during the bearish market trend of early 2022 shows the future still looks bright.
More Addresses Hold Over 0.01 BTC
Some people in the crypto industry believe that when bitcoin dips, people will fruitlessly keep waiting to buy in even lower. Others may time the dip correctly and buy at the lowest point before the market moves up again. Regardless of which camp one is in, it is never a bad idea to hold a small share of BTC in a wallet. Having a bit over 0.01 BTC can be enough to pocket a decent profit by holding and not staring at price changes every hour.
The most recent market dip has discounted the world’s leading cryptocurrency by roughly 50% compared to the 2021 all-time high. It is a steep price decrease but one that won’t worry those who have been in crypto for a few years. Of course, market cycles like these will occur now and then, but the odds always favor a return to upward price momentum afterward.
On that note, it is intriguing to see the number of addresses holding 0.01 BTC or more reach an all-time high today. Although that doesn’t mean new people are holding that amount per se, it is a possibility no one can deny either. Another possibility is existing users and companies generating new addresses, although that alone wouldn’t be sufficient to hit a new all-time high either.
Regardless of how it happened, bitcoin managed to hit an all-time high despite rough weather in the market. That is one of the world’s leading cryptocurrency strengths and an aspect the mainstream media tends to overlook for various reasons. However, interest in and demand for this currency will not slow down all of a sudden when prices go down. Instead, it often has the opposite effect, as Bitcoin performs very well over time, despite short-term fluctuations.
BTC Price Support Remains Shaky
While it is intriguing to see an ATH for addresses holding 0.01 BTC or more, the bitcoin price is still searching for stable support. The bounce of $33,520 is significant, but the upward momentum meets tremendous resistance at every step. Stability near $37,500 would be welcome, although it remains unclear where the market will head in the coming days.
Eventually, the leading cryptocurrency will likely resume the push toward a new all-time high. That process can take anywhere from a few weeks to multiple years, but it will eventually happen. The most recent dip is far from a crypto winter like 2018-2019, yet it serves as a stark warning to those searching for quick riches.
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