RATE Group | As Bitcoin Falls to 2-Week Lows, Small Investors Look to Be Buying
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As Bitcoin Falls to 2-Week Lows, Small Investors Look to Be Buying

25 May As Bitcoin Falls to 2-Week Lows, Small Investors Look to Be Buying

Posted at 13:07h in Cryptocurrency News by

With bitcoin’s price losing altitude again, small investors appear to be seeking exposure to the top cryptocurrency by market value.

Prices fell by 9.8% last week to register bitcoin’s biggest weekly decline since the second week of March, according to CoinDesk’s Bitcoin Price Index. A two-week low of $8,630 was registered early on Monday, with prices last seen at $8,730 – down over 11% from the post-halving high of $9,960 registered on May 18. 

Despite the price drop – or perhaps because of it – the number of addresses holding smaller amounts of bitcoin has continued to rise. 

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The number of unique addresses holding at least 0.01 BTC (around $87 at press time) rose to a new high of 8,478,746 on Sunday, according to data provided by blockchain intelligence firm Glassnode.

Meanwhile, the number of addresses holding at least 0.1 BTC (roughly $870) also rose to a lifetime high, reaching 3,053,004 on Friday. Both metrics regained their upward trajectory following the May…

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