Categories: Crypto NewsNews

BTC wholecoiners are up by 40K since the June crash began

Published by
Nonhlanhla P Dube

The cryptocurrency’s price fell sharply in May and June, which appears to have coincided with a rise in wallet addresses holding more than one Bitcoin.
Smaller Bitcoin (BTC) investors have discovered a unique opportunity to purchase their favourite cryptocurrency during the crypto collapse. Since the June collapse, the number of “wholecoiners” has increased by 40,000.

The number of BTC “wholecoiners” has been continuously increasing since January 31, when the BTC price was approximately R636K, according to LookIntoBitcoin.

However, the price of Bitcoin plunged roughly 27% in May and 40% in June, the same month that saw 25,389 new wallets holding at least one complete Bitcoin.

BTC’s current price is R385K, down 64% from its all-time high of $64,400 in November 2021, and the number of wholecoiners is at an all-time high of 891,346 as of August 1, 2022.

On Monday, crypto investor Lark Davis told his Twitter followers that “a lot of individuals are meeting their whole coin goal!”

Surprisingly, the number of wallets holding more than 10 BTC, 100 BTC, and 1000 BTC have begun to taper off, if not fall, within the same period.

Since May, wallet addresses with more than 10 BTC have increased by 600, addresses with more than 100 BTC have decreased by 125, and wallets with more than 1,000 BTC have decreased by 113.

Bitcoin’s price has been rising since mid-July, but experts disagree on whether the cryptocurrency has reached its bottom or if further declines are on the way.

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Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

Published by
Nonhlanhla P Dube
Tags: Bitcoin
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