The number of bitcoin millionaires has fallen by 15% since January 2022, according to statistics collected on a website. In this account, only values present in bitcoin wallets were taken into account, disregarding values of users deposited in brokers.
The start of the year in bitcoin’s price is really drawing attention, after clashing with that reality we’ve seen over the past two years. For example, in 2020, bitcoin reached a price of $29,000 at the close, an annual increase of more than 300%.
As early as 2021, the price of BTC in the market reached a new high, although it lost its breath towards the end of the period. By 2022, the world’s largest digital currency will lose 35% of its value against the dollar.
Number of Bitcoin Millionaires Drops 15% Since January
The month of May is nearing its close, although bitcoin millionaires have not much to celebrate. That’s because many of them lost their foothold in the market, with fewer coins in their wallets.
According to the BitInfoCharts website, the number of addresses with $1 million worth of bitcoin today is 73,467. These wallets are then the current BTC millionaires on the market, albeit on the account between a few exchange addresses.
Regardless, the value is down 15% since January 2022, when there were 87,344 bitcoin millionaires, according to the same website.
This shows that either investors have sold their coins on the market, exited their positions, or with the same amount of bitcoin they no longer have the equivalent of $1 million as the market has collapsed in recent months.
Bitcoin Whales Take Advantage of the Fall
The number of bitcoin whales that has declined in recent months shows a downward trend in the price of the world’s leading digital currencies.
However, some addresses continue to bet on the long run of the market and add more coins to their wallets. In recent days, for example, Bitcoin’s biggest whale has been caught buying more coins in the market crash.
In addition, the fear and greed indicator has recorded consecutive days of “Extreme Fear”, meaning the time is right for those who believe in the long term and want to buy more bitcoin.
In any case, with the fall, many have left their positions and are waiting for a clearer definition, which doesn’t seem to come until June, the last month of the second quarter of 2022.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
