The Magazine for Asian Investors
Over $370 million in trader accounts were liquidated across all exchange platforms in one day (January 22, 2022), Finbold data shows. Today at 9 am ET Bitcoin was down 2.54% to $35,971.43.
Moreover, the data says the number of Bitcoin millionaires has rapidly decreased in the last 3 months. This is said to be almost 30,000 Bitcoin holders.
Wallets with more than $1 million in Bitcoin have dropped to 80,945 from 105,820 addresses, and wallets with more than $10 million have dropped to 7,008 from 10,319 addresses as of October 2021, a drop of over 32%.
In addition, the number of wallets holding at least $100,000 in Bitcoin dropped by more than 30% between October and January.
People who hoped that Bitcoin would quickly jump above $100,000 will probably be disappointed by now. As more and more people have become interested in the crypto market and Bitcoin, a lot of hype has been brought into the market lately. But especially the crypto market is known as a very risky playground, as prices can drop by half within minutes depending on market sentiment. Bitcoin itself has had to swallow some negative news lately. Crypto regulations are coming in more and more countries, the Kazakhstan problems which is a major BTC mining country, and on top of that, the Fed is flushing cheap capital out of the markets with their statements about ending QE. However, people who have been involved with Bitcoin for a while see Bitcoin as much more than a short-term hope and current volatility is nothing new. For them, Bitcoin represents a piece of freedom that is being lost through the fiat system.
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Thursday, January 27, 2022