There are reports making the rounds in the crypto space about Bitcoin and its small wallet holders. The number of wallets holding small amounts of the world’s number one cryptocurrency, Bitcoin, has now risen to an all-time high level. Reports from the blockchain are also indicating that those investors who had been sidelined all the while are now finding their way into the trading sphere.
Small Wallet Holders Increase Sharply
Glassnode, the blockchain analytics company, also released a report concerning the recent happenings around the Bitcoin network. Glassnode’s report has it that the number of Bitcoin wallets that hold a minimum of 0.01 Bitcoin, which is worth roughly $200, has increased to a new all-time height of 10.7 million addresses.
Note that the number of these smallholder Bitcoin wallets is staging a growth at this crucial time when Bitcoin price has fallen under $20,000 again. Bitcoin currently sells for $19,841.60 according to the market’s summary while it is fighting hard to get back to its psychological price level which was set in 2017.
CryptoGlobe also published a report about opinions on the activities around Bitcoin. The report quoted a cryptocurrency trader on Twitter going by the pseudonym, Capo. He said to his followers who number more than 500,000 that the price of Bitcoin is facing a condition of rejection not too far from its resistance area.
Bitcoin Might Fall Further
The resistance area is placed between $22,500 and $23,000, and the token is presently at an area of support. In a follow-up tweet afterward, Capo stated he is forced to think that the world’s number one crypto asset might fall to a deeper low level if the token happens to trade under $19,000. He put the possible depth after $19,000 at between $14k and $16k.
Ali Martinez, another crypto analyst, took to the same Twitter to suggest that new Bitcoin wallets might have been created daily because there is an increased interest from investors who had been sidelined initially. He said that set of investors are now buying up Bitcoin as soon as it fell under $20,000.
The author of the “Rich Dad, Poor Dad” financial advisory book series, Robert Kiyosaki, has advised that investors should get into investing in crypto. He urged that it would be a smart move before the world’s largest economic tumble.