Since the low point of the crypto market this winter, the number of wallets with a holdings between 1,000 and 10,000 Bitcoin (BTC) has risen sharply. This number indicates a significant accumulation during the price decline.
Investors mainly bought BTCs in crypto winter
First, as part of Diar’s analysis, today’s spread of the Bitcoin landscape is compared to August 2018 data. At this time, the BTC traded for the first time in a price range of about 8,000 US dollars. The analysis is mostly about the so-called “fixed size” of bitcoin wallet addresses, which are defined as bitcoin addresses that hold between 1,000 and 10,000 BTC. It was found that such addresses now account for more than 26 percent of the circulating offer, ie $ 36 billion worth of BTC.With the crypto market bottoming out in December 2018, when Bitcoin was trading at only $ 3,200, Bitcoin’s accumulation in wallets of fixed size increased to $ 450,000. This is the fastest growth among all Wallet addresses, as indicated by the Diar data.The wallets of fixed sizes total $ 6 billion. In doing so, Diar emphasizes that the bitcoins analyzed in these addresses are by no means outdated or lost. This means that most of it has been actively moved within the last three months.
In addition, Diar notes that since the beginning of 2019, about 40 percent of inflation-driven Bitcoin has been collected in fixed wallets with over 100,000 bitcoins.Particularly noteworthy according to the report is the long-term trend of obvious accumulation according to fixed size addresses: After the start of the crypto-bear market in January 2018, around 955,000 BTC were redefined by inflation. Half of the new market offer should have consolidated these addresses.Analysts at digital asset fund Adamant Capital predicted that the bear market will enter its final phase in April. They found that Bitcoin whales accumulated the top coin in a way that matches the 2014-2015 bear market.