Topic: Bitcoin ‘Young Investment’ Wallets at Highest Level Since February 2018 - page 2. (Read 326 times)
September 20, 2020, 07:15:00 AM
So if February 2018 was the highest level since, then people started coming in at the peak or soon after anyway, thinking it would go on to make more waves (it didn't happen obviously, but that's not the point). Does this suggest new entrants also see Bitcoin as approaching a new rally? Not that it matter what they think, again, but sentiment can be a poweful thing (or not).
September 20, 2020, 04:44:02 AM
With another surge for bitcoin for the recent months, that clicked the curiosity again of people of what bitcoin is. And upon learning that there's a bullish scene that's happening, that's what made them decide to invest on it.
Also, while people are staying at home. They have done their research proving what bitcoin is and if it's a worth investment to take, and the result it could be that research made by chainanalysis.
It will also be interesting as to what level is "bitcoin" in Google's search algorithm, I wouldn't be surprised if it also spike and will continue to spike in the next coming months as we are in a sort of mini bull run after the block halving. And with people really just staying at home because of the current pandemic, there could be some who are entering and investing in bitcoin. Regardless though, we all know that an all time high will be forthcoming and I do hope that those young investors can join the fun ride that we will be having. Also, while people are staying at home. They have done their research proving what bitcoin is and if it's a worth investment to take, and the result it could be that research made by chainanalysis.
September 20, 2020, 02:34:25 AM
With another surge for bitcoin for the recent months, that clicked the curiosity again of people of what bitcoin is. And upon learning that there's a bullish scene that's happening, that's what made them decide to invest on it.
Also, while people are staying at home. They have done their research proving what bitcoin is and if it's a worth investment to take, and the result it could be that research made by chainanalysis.
Also, while people are staying at home. They have done their research proving what bitcoin is and if it's a worth investment to take, and the result it could be that research made by chainanalysis.
September 19, 2020, 09:04:17 AM
For sure these "young investment" wallets owner done superb research on Bitcoin, especially on the price part.
And for sure if it is three months+ ago then they already in profits if they are still not selling, the price before was below $10,000.
Bitcoin is getting more popular then I expect a lot of growth for this and there are still a lot of them coming.
And for sure if it is three months+ ago then they already in profits if they are still not selling, the price before was below $10,000.
Bitcoin is getting more popular then I expect a lot of growth for this and there are still a lot of them coming.
I'm not sure if they have done superb research or probably they realised that the bull run in 2017 was really that good and make a lot of their friends more money that's why they entered in 2020 wherein there's a lot of leg room for another bull run next year. But I would say that there is really growth, last month I was talking to a friend who I haven't talk for like 5-10 years and he says that he is also into crypto because he wanted to emulate a office mate who become instant millionaire in 2017. So it's more of like a spread of mouth, instead of a research that really bolsters these 'young investors' coming into the market in the last couple of months.
September 18, 2020, 10:39:52 AM
Well, I believe the reason why that is happening is the fact that people actually lost a lot of stuff during pandemic and there was a "reset" which made people go back to zero and come back and at that moment people realized that maybe it is safer to put money into the crazy volatile currency that nobody gets in?
I mean seriously it makes super sense that people should be picking bitcoin over all other fiat investments because lets be honest all those fiat investments didn't really helped them as much as bitcoin people got rich, so maybe now it is their time to get into it as well. I personally believe that it was perfect timing for new wave of people coming in but obviously it is upsetting to see this many new people but the price not really going high at all.
I mean seriously it makes super sense that people should be picking bitcoin over all other fiat investments because lets be honest all those fiat investments didn't really helped them as much as bitcoin people got rich, so maybe now it is their time to get into it as well. I personally believe that it was perfect timing for new wave of people coming in but obviously it is upsetting to see this many new people but the price not really going high at all.
September 17, 2020, 05:05:34 PM
For sure these "young investment" wallets owner done superb research on Bitcoin, especially on the price part.
And for sure if it is three months+ ago then they already in profits if they are still not selling, the price before was below $10,000.
Bitcoin is getting more popular then I expect a lot of growth for this and there are still a lot of them coming.
And for sure if it is three months+ ago then they already in profits if they are still not selling, the price before was below $10,000.
Bitcoin is getting more popular then I expect a lot of growth for this and there are still a lot of them coming.
September 17, 2020, 01:29:40 PM
New investors are entering the bitcoin market at a faster pace and possibly creating upward pressure on prices, on-chain data shows.
Full article link is here- https://www.coindesk.com/bitcoin-young-investment-wallets?amp=1
The number of “young investment” wallets (those that are one to three months old and rarely send bitcoins) has jumped to 2,254,667 this month, the highest level since February 2018, according to data provided by the blockchain analysts firm Chainalysis. That's double from 1,162,632 six months ago.
The growth curve was much flatter in the first two months of the year but went near-parabolic following bitcoin's March crash.
"It looks like new people are entering the market, buying bitcoin and putting it in wallets for long-term investment," Chainalysis' economist Philip Gradwell told CoinDesk.
Investors took advantage of the 40% price drop to levels below $4,000 observed on March 12 and have continued to pour money into the top cryptocurrency ever since.
"Overall, the data suggests that buying pressure for bitcoin is increasing, and the supply available to buy is reducing as new purchases likely get locked up for the long term," Gradwell said.
Bitcoin is trading near $10,900 at press time, representing a 52% gain on a year-to-date basis, but still down 83% from the record high of $20,000.
The number of young wallets surged from 791,289 to 2,000,000 in the second half of 2017 as bitcoin rallied by $2,000 to $20,000. The investor interest remained strong even as prices fell back sharply to $6,000 in February 2018.
The growth curve was much flatter in the first two months of the year but went near-parabolic following bitcoin's March crash.
"It looks like new people are entering the market, buying bitcoin and putting it in wallets for long-term investment," Chainalysis' economist Philip Gradwell told CoinDesk.
Investors took advantage of the 40% price drop to levels below $4,000 observed on March 12 and have continued to pour money into the top cryptocurrency ever since.
"Overall, the data suggests that buying pressure for bitcoin is increasing, and the supply available to buy is reducing as new purchases likely get locked up for the long term," Gradwell said.
Bitcoin is trading near $10,900 at press time, representing a 52% gain on a year-to-date basis, but still down 83% from the record high of $20,000.
The number of young wallets surged from 791,289 to 2,000,000 in the second half of 2017 as bitcoin rallied by $2,000 to $20,000. The investor interest remained strong even as prices fell back sharply to $6,000 in February 2018.
Full article link is here- https://www.coindesk.com/bitcoin-young-investment-wallets?amp=1
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