Journalist
Posted:
- Bitcoin holders have increased by over 2 million in the last two months.
- BTC has dropped from the $44,000 price range.
There’s been discussion about Bitcoin’s [BTC] bull market accumulation, given its fluctuation within the $40,000 price range. The question now is: What stage of accumulation are we presently in?
Bitcoin hodlers continue accumulating
A recent IntoTheBlock post compared the ongoing bull market and the aggressive accumulation behavior of Bitcoin holders.
The analysis illustrated that in past bull markets, traders initiated accumulation when the price of BTC started to recover. Initially, accumulation occurred at a measured pace, likely to confirm the sustainability of the price rebound.
As the rebound persisted, accumulation intensified. Subsequently, hodlers began selling off once the price reclaimed its previous all-time high, coinciding with the entry of new traders into the market.
The chart indicates that the current phase aligns with the price rebound stage. Bitcoin has been experiencing an upward trajectory since reaching a low earlier in the year.
However, it has yet to reach the $60,000 price level, its previous peak. This suggests that the accumulation phase is likely to persist.
The Bitcoin hodlers net position change
An examination of Bitcoin Hodler’s net position change on Glassnode indicates a sustained positive trend over recent months. This signifies that long-term holders have been consistently entering new positions, with only a few wallets cashing out.
The current status of this metric signals an ongoing accumulation phase, with the figure standing at over 23,000 at the time of this writing.
Source: Glassnode
Bitcoin holders increase by over 2 million
An examination of the trend in Bitcoin holders reveals a consistent increase over the past few months. Analysis of the chart illustrates a growth of over 2 million holders between October and the current date.
In early October, the count of holders stood at around 49 million, and at the time of this writing, it has risen to over 52 million.
Source: Santiment
Read Bitcoin (BTC) Price Prediction 2023-24
Bitcoin drops to the $43K price range
In the recent daily timeframe price trend of Bitcoin, it traded above $44,000 in the previous trading session. This followed a significant price drop that brought it back to the $41,000 range, having previously reached $44,000 a few weeks ago.
As of this writing, Bitcoin was trading at around $43,700, reflecting a decrease of less than 1%. Given the current price range, it suggests that accumulation is likely to persist until there is a breakthrough into the $60,000 price range.
Source: TradingView
clomid contraindications order generic clomid without rxРіРѕРІРѕСЂРёС‚: clomiphene rx for men where to buy cheap clomid pill clomid one fallopian tube where can i get generic clomiphene tablets can i order clomid pills
More posts like this would make the online time more useful.
The thoroughness in this section is noteworthy.
order azithromycin 500mg without prescription – ciprofloxacin 500mg generic buy metronidazole 200mg pill
rybelsus 14mg price – semaglutide online order periactin cost
buy motilium 10mg online cheap – generic sumycin 250mg cheap flexeril
buy cheap generic propranolol – buy methotrexate 2.5mg online methotrexate 5mg without prescription
purchase augmentin without prescription – https://atbioinfo.com/ cheap ampicillin
buy generic esomeprazole – https://anexamate.com/ order esomeprazole pills
order coumadin 2mg online cheap – coumamide cheap cozaar 50mg
buy meloxicam 15mg generic – tenderness mobic price
prednisone 40mg uk – apreplson.com order deltasone 40mg pill
can you buy ed pills online – cheap ed pills men’s ed pills
amoxicillin online order – https://combamoxi.com/ buy amoxicillin pills for sale
buy forcan without a prescription – flucoan forcan us
cenforce price – order cenforce pill purchase cenforce without prescription
buy cialis tadalafil – https://ciltadgn.com/# cialis generic timeline
buy cheap generic zantac – https://aranitidine.com/# ranitidine 150mg ca
how much tadalafil to take – cheap cialis dapoxitine cheap online can tadalafil cure erectile dysfunction
buy viagra qatar – https://strongvpls.com/ order viagra mexico
I couldn’t resist commenting. Well written! https://gnolvade.com/es/comprar-kamagra-generico/
Greetings! Jolly productive suggestion within this article! It’s the crumb changes which wish turn the largest changes. Thanks a lot for sharing! https://buyfastonl.com/azithromycin.html
More peace pieces like this would make the интернет better. https://ursxdol.com/prednisone-5mg-tablets/
This is the amicable of content I enjoy reading. https://prohnrg.com/product/atenolol-50-mg-online/
This is the tolerant of advise I recoup helpful. levitra prix en pharmacie
This is the stripe of topic I have reading. https://ondactone.com/simvastatin/
I couldn’t resist commenting. Well written!
cheap levaquin 250mg
This is the gentle of scribble literary works I rightly appreciate. https://whois.22.cn/https://faithful-raccoon-qpl4dn.mystrikingly.com/
Greetings! Utter gainful advice within this article! It’s the petty changes which wish turn the largest changes. Thanks a a quantity for sharing! https://myvisualdatabase.com/forum/profile.php?id=117927
forxiga 10 mg for sale – https://janozin.com/# dapagliflozin 10mg sale
purchase orlistat generic – order orlistat pill buy orlistat 60mg sale
More content pieces like this would urge the web better. http://bbs.51pinzhi.cn/home.php?mod=space&uid=7112957