Bloomberg reported yesterday that the number of active Bitcoin wallets surged during the two weeks prior to the recent rally of the main cryptocurrency by market cap.
Bloomberg has reached this conclusion after examining the analysis conducted by the market intelligence firm Flipside Crypto, according to which the number of active BTC wallets increased significantly in the two weeks prior to the recent Bitcoin rally. The largest crypto by market capitalization skyrocketed 15% on April 2 reaching the psychological mark of $4,500 for the first time in 2019.
According to Flipside Crypto, about 40-50% of all Bitcoin tokens are usually stored in wallets that have been inactive between one and six months, however, this figure has fallen to 10% since March 15. Eric Stone, co-founder and director of information sciences at Flipside Crypto, says that "more and more people are interested in the idea of buying bitcoin."
According to him, in most cases, Bitcoin price changes are usually caused by a few whales. This is exactly what happened in autumn, when Bitcoin jumped by 40%. However, this time there are a lot of small investors.
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