Select Page

Addresses with at Least 0.1 Bitcoin Soars to a 4-Months High. Is BTC Price Rebound Imminent?

Addresses with at Least 0.1 Bitcoin Soars to a 4-Months High. Is BTC Price Rebound Imminent?

This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

The cryptocurrency industry has experienced a number of turmoils in the past few months with the resultant effect being shown by the plunging in the price and valuation of assets in the ecosystem. Bitcoin (BTC) has been at the forefront of each of these fundamental turmoils, and the latest, involving China’s revival of its clampdown on all crypto-related activities notably pushed the price of the cryptocurrency to a 30-day low of $39,787.61.

Many retail investors have notably taken advantage of the price slump to “buy the dip.” This claim is further substantiated by data from Glassnode, a crypto markets analytics platform. Per the shared insight, the number of Bitcoin addresses holding at least 0.1 coins (about $4,261.43) has soared to a 4-month high of 3,246,533. In other words, the latest dip pushed more people to stack up on their assets, some for the first time, and others increased their portfolios.

BTC001BTC Addresses Holding 0.1+ Coins. Source: Glassnode

Many who are bullish on Bitcoin are often anticipating periods of price slumps to take up new positions in Bitcoin. While many are beginning to embrace altcoins with unique fundamentals, periods of corrections often serve as an opportunity to buy in and take profits all within a short time frame.

Is the retail buyup the basis for price rebound?

The price of Bitcoin has started seeing some mild recoveries as it is trading midway from the $40,936.56, lowest point to the highest price of $42,839.75 printed in the past 24 hours. For a stable or sustainable uptrend, Bitcoin will need an aggressive buying momentum beyond the capacity the retail holders are currently doing.

While currently changing hands at a price of $42,718.90, Bitcoin will need to consistently trade above the $45,000 resistance point, before it can regain its 7-day high of $48,328.37. From the sloppy movements seen by the 24-hour rate of gain of 0.31%, the chances that the needed recovery will be spearheaded by the current retail buyup.

However, Bitcoin and the broader digital currency industry is known to withstand and recover from the impact of all forms of Fear, Uncertainty, and Doubt (FUD) being spread by the threats of Chinese clampdown year after year in the past decade. This current clampdown will be no exception in the medium to long term.

The post Addresses with at Least 0.1 Bitcoin Soars to a 4-Months High. Is BTC Price Rebound Imminent? appeared first on Coingape.

Source: Coingape

All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own here


Select a Sub Category


All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber