Bitcoin Investors Alert: The number of sharks making large investments in Bitcoin, the largest cryptocurrency by market capitalization, has decreased by almost 80 percent in a year. This indicates that the big investors of bitcoin are suffering huge losses due to the fall in the market. Also, many big whales accounts are increasingly distancing themselves from this crypto (Bitcoin Price in India).
Data from analytics firm Glassnode shows that bitcoin The number of wallets with $1 million or more in them is a little over 23,000. Experts say that this could be a sign of a major decline in this cryptocurrency. At the end of the previous uptrend, the price of bitcoin was at $19,666. After this, it fell to around $13,880 at the end of December 2017. Recently famous trader Peter Brandt had said that bitcoin can even fall to zero. The bankruptcy of crypto exchange FTX has caused a big loss to the reputation of this cryptocurrency.
Glassnode reported that in the last week of last month, the number of wallets holding more than $1 million in bitcoin was around 23,240. In November last year, bitcoin touched a high of around $69,000 and then the number of these wallets was 1,13,898. With the fall in the price of bitcoin this year, the number of these wallets is also decreasing as their owners want to reduce losses by selling the cryptocurrency.
One study found that almost three quarters of people who bought bitcoin have suffered losses. This information has been collected by the Economists of the Bank of International Settlements for about 95 countries in the last seven years. cryptocurrency Got it from the study of investors’ data. It has been told in this study that about three quarters of people investing in bitcoin are estimated to be at a loss. During this period, the price of bitcoin rose from around $250 to a high of around $69,000 in November last year. The number of people buying and selling cryptocurrencies through the app increased from 1.19 lakh to nearly 3.25 crore during this period. The researchers who conducted the study wrote, “Our analysis shows that the increase in the price of bitcoin is related to the increase in the number of its retail investors.”