coinspress.com
The first quarter of 2023 has been favorable for Bitcoin (BTC), which saw massive gains since the start of the year.
As a result, there has been a noteworthy rise in the number of cryptocurrency wallets holding at least one Bitcoin, with the figure coming close to one million holders.
According to data from the cryptocurrency tracking platform LookIntoBitcoin, this is a new all-time high.
‼️Almost 1 MILLION addresses hold +1 #Bitcoin – a new all-time high! 🚀 pic.twitter.com/lYYQKzKa6E
— Bitcoin Archive (@BTC_Archive) April 9, 2023
Furthermore, the crypto analytics platform Santiment reports that the total number of Bitcoin holders is increasing at the quickest pace since early 2021. Recently, the number of addresses holding any amount of Bitcoin has surpassed 46.16 million, following a similar pattern observed between January and April 2021.
💰 There is a rising rate of #Bitcoin #hodlers as traders seem to have become increasingly content in keeping their bags unmoved for the long-term. We saw a similar trend from January, 2021 through April, 2021 when $BTC rose above $64k for the first time. https://t.co/xrwNhcqVLo pic.twitter.com/wYFBsx6Css
— Santiment (@santimentfeed) April 9, 2023
The rising number of people holding Bitcoin in their wallets could be due to traders becoming increasingly content with long-term investments.
At the time of writing Bitcoin’s price has increased by 3.6% in the past 24 hours to $29,150 – a 70% YTD growth.
In the first quarter of 2023, Bitcoin has outperformed the top five major indexes.
Recently, PlanB released a new long-term chart called Bitcoin Market Stages, which suggests that Bitcoin has entered a new bull market as of early 2023.
He predicts that Bitcoin will surge 100% by 2024, approaching the $55,000 – $60,000 range.