Number Of Bitcoin Accumulation Addresses Hit New Highs

And this is still early days, these numbers are minuscule compared to what lies ahead:

The Number of Bitcoin “Accumulation Addresses” Hit New Highs; Here’s Why

Bitcoin investors have been accumulating the cryptocurrency at a rapid pace throughout the past few months, with much of this buying pressure coming from retail investors.

One metric from analytics platform Glassnode highlights just how intense this accumulation trend has been as of late, with the number of “accumulation addresses” seeing rapid growth throughout the past year.

This indicates that the number of long-term BTC holders is rising at a rapid pace, potentially laying the groundwork for the crypto to see major strength in the years ahead.

Analysts are also observing that medium-sized whales have also been buying massive amounts of Bitcoin in recent weeks.

The confluence of accumulation amongst both retail investors and so-called “whales” is a positive sign for the benchmark cryptocurrency’s mid-term outlook.

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Master Asked on August 26, 2020 in Bitcoin.
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