Bitcoin Achieves Milestone in Total Balance Addresses
Bitcoin, the largest cryptocurrency by market value, has achieved a significant milestone, although not in terms of price.
Bitcoin has recorded a new high in the total number of balance addresses. There are now over 50 million addresses holding Bitcoin, marking a significant accomplishment with a 17% growth since the beginning of the year.
The total number of balance addresses for Bitcoin has been steadily increasing, reaching 50.21 million. This number indicates a long-term interest in holding a specific crypto asset and investing in it.
Bitcoin has also seen a continuous increase in the total number of addresses, which includes all addresses ever created and at any given time held a certain amount of cryptocurrency, including those that are still being held. This currently amounts to 1.25 billion for Bitcoin.
Bitcoin Price Movement
The price of Bitcoin surged by over 16% to reach $44,529 on December 5th. This indicates that traders are rushing to buy Bitcoin in anticipation of further price increases. Short-term investors have made small profits, but the price of Bitcoin has remained above $43,000.
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At the time of writing this report, the price of Bitcoin has declined by 1.41% in the past 24 hours to $43,418.
The price of Bitcoin is currently sitting at a stable support level of $42,700. This level is significant as 642,000 wallets bought 347,000 Bitcoins here. If the support level of $42,700 is broken, all eyes will turn to the critical level of $38,000 as the next crucial area to watch.
On the other hand, if the upward trend continues, Bitcoin may head towards the next major supply zone at $47,300, where 614,000 wallets hold 427,000 Bitcoins.
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