repeats the dynamics

Analyst: The growth in the number of large bitcoin addresses repeats the dynamics until 2014

The number of Bitcoin addresses containing 1,000 BTC ($ 8.3 million) or more is now growing at the same rate as before 2014. Analyst Willie Wu drew attention to this..

Analyst: The growth in the number of large bitcoin addresses repeats the dynamics until 2014

According to the graph published by the analyst, the growth in the number of such addresses follows the trajectory of earlier years..

Twitter account @glassnode also pointed out that the number of addresses with a balance of more than 1,000 BTC has reached a new high as a result of another jump. Some analysts admit that the observed dynamics may indicate the accumulation of bitcoins by the owners of large addresses against the background of the depreciation. Others argue that one exchange, for example, can distribute assets from one of its wallets with a balance of 50,000 BTC to 50 different addresses, which will lead to the same visual effect..

Analyst: The growth in the number of large bitcoin addresses repeats the dynamics until 2014

Wu, however, is of a different opinion: “To get 1,000 BTC in the early years, you had to be super geek, know how to mine it, and invest a little in equipment and electricity. I had tech-savvy friends mining 50 BTC just to try out the software. In 2019, 1,000 BTC means investing $ 10 million. It amazes me that now there are probably no fewer such people than those who were interested and knew about Bitcoin mining before 2013. I believe we are experiencing a new Bitcoin renaissance, fueled by wealthy investor capital, while the first boom was the result of the technical activism behind the network. “.

According to the charts presented, the growth in the number of addresses with a balance above 1,000 BTC resumed in early 2019 after a period of relative stability. Records of a similar plan were noted by analysts last month, when a new maximum reached, for example, the number of addresses with a balance of more than $ 100,000.

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