• The number of addresses holding $1 million worth of BTC or more has taken a beating during the crypto winter.
• A survey reveals that 70K fewer BTC wallet addresses with $1 million USD worth of Bitcoin or more exist in comparison to the all-time high of BTC in November 2021.
• Bitcoin price analyst predictions are out as we enter the new year.
The crypto winter has been raging on for over a year now, as Bitcoin’s (BTC) all-time price high of $68,789 on November 10, 2021 hasn’t been seen since. Despite the price of Bitcoin currently hovering around $16,900 on crypto exchanges, the prolonged 2022 crypto winter has taken its toll on the number of addresses holding $1 million USD worth of BTC or more.
A survey of the damage reveals that 70K fewer BTC wallet addresses with $1 million USD worth of Bitcoin or more exist in comparison to the all-time high. This is a significant reduction, considering that the price of Bitcoin has dropped by 75% since its record high.
As we enter the new year, Bitcoin price analyst predictions are out. Many investors are hoping that the cryptocurrency will rally back to its all-time high, although this is not guaranteed. Analysts are speculating that the price of Bitcoin could go as high as $60,000 or even higher in the coming months.
At the same time, the crypto winter has been a difficult period for many investors. With the number of addresses holding $1 million worth of BTC or more significantly reduced, the impact of the crypto winter is undeniable. However, there is still plenty of optimism for the future of the crypto markets. With the right strategies and a bit of luck, investors could still turn a profit from their investments in the cryptocurrency.