Bitcoin (BTC) news

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.

READ MORE "Bitcoin Mining's Profound Water Consumption: A Critical Discussion on Environmental Impact"

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.

Important Notice: The content of this article is for informational purposes only and should not be construed as financial advice. assumes no responsibility for any investment decisions made based on the information provided herein. It is strongly advised to seek the guidance of a qualified specialist or financial advisor before making any investment choices.

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