According to data reported by Santiment's platform, Bitcoin addresses are increasing in tandem with the price of the asset.
📈 The number of #Bitcoin holders with 1,000 or more $ BTC held continues to climb as prices flirt with new all-time highs. Meanwhile, addresses with under 1,000 $ BTC look to be selling off since Wednesday, content with their profits at the $ 22k- $ 24k level https://t.co/8cLnzOyPbi pic.twitter.com/IHGoWC8XZL
– Santiment (@santimentfeed) December 20, 2020
The graph also examines the amount of Bitcoin stored in each wallet, in an attempt to understand how people have behaved with respect to its price, which only in mid-March marked its lowest level in 2020.
Bitcoin addresses and their behavior
In the first range, which goes from 0 BTC to 0.1 BTC per wallet, it is clear that these have always been on the rise, although they decreased when the asset price reached the figure of 15 thousand dollars, so we can deduce that several people have preferred to liquidate the asset at that moment.
The same pattern was followed by all those who had between 0.1 and 10 BTCIn fact, the first sell-off was around August, when the price had topped $ 11,000, while the second drop was in November when the price started to exceed $ 14,000. In the graph, we can see that these wallets are still selling.
The mini whales, that is, the directions they have between 10 and 1000 BTC per wallet, instead, they have followed a different trend and sold during certain peaks. These mini whales appear to be increasing, just in anticipation of a further increase in asset, and have therefore preferred to stop selling but hold on.
As for the whales, that is, addresses that have more than 1000 BTCInstead, there was an accumulation just before the asset exceeded 12 thousand dollars, and since the end of October, they have always accumulated, which shows that even with these high prices, the whales are still vigilant to buy the asset in anticipation of increase.
Certainly, since the price of Bitcoin continues to rise, more and more people have decided to sell or buy based on the size of their holdings.
The most common people with only a few fractions of Bitcoin have preferred collect and dispose of the asset at these levels, while, by contrast, the largest holders are betting that the asset may still go up in price and are multiplying their investment considerably.