RATE Group | Number of Bitcoin “Wholecoiners” is Growing Rapidly; Here’s What This Means
82605
post-template-default,single,single-post,postid-82605,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Number of Bitcoin “Wholecoiners” is Growing Rapidly; Here’s What This Means

12 Mar Number of Bitcoin “Wholecoiners” is Growing Rapidly; Here’s What This Means

Posted at 03:03h in Cryptocurrency News by

[ad_1]

Bitcoin (BTC) investors are heavily accumulating the cryptocurrency despite its ongoing downtrend, which could be a positive sign for the benchmark crypto’s macro outlook.

This growth is elucidated while looking at the number of investors who hold over 1 BTC – commonly referred to as “wholecoiners” – which has been skyrocketing over the past several weeks.

This bullish factor, coupled with heightened market participation rates amongst futures and options traders, seems to suggest that the market is growing and maturing despite the intense ongoing selloff that is plaguing BTC and most other major altcoins.

Investors are Accumulating Bitcoin Despite Intense Downtrend 

The past several weeks have been rough for Bitcoin and the aggregated cryptocurrency market, with BTC and most other major altcoins plummeting from their 2020 highs in late-February in a trend that has been perpetuated by the weakness in the global markets.

Although the selloff has shifted investor’s sentiment…

[ad_2]

Source link

Tags:
, , , , , ,