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Number of people who own 1 BTC approaches one million amid the market slowdown

‘HODLing’ strategy at BTC has intensified in post-halving

Two months after Bitcoin halving, the number of addresses with more than 1 BTC continues to increase. This trend has continued since the market’s decline in ‘Black Thursday‘In March, which had a catastrophic impact on stocks and cryptocurrencies, as both markets reached deep levels of asset prices. However, several months later, Bitcoin recovered strongly – and rose more than 43% in the second quarter of 2020.

Strong potential for interest has always attracted many new investors who gradually increase their Bitcoin stock. Currently, the number of addresses with one or more BTC is approaching close to 1 million, according to data from Glassnode.

Source: Glassnode

According to some key industry executives in the crypto space, the price of BTC could reach $ 50,000 compared to the post-halving euphoria. Many experts predict a future upward trend, which can be seen later this year. However, there is always a healthy degree of skepticism about overly optimistic projections.

The rise in interest in cryptocurrencies also occurs amid high uncertainty surrounding the S&P 500 and the future of the global economy, especially as rumors arise about a new level of pandemic martyrs. In addition, as the printing of fiat money becomes the only way to save the economy, inflationary risk is getting closer and closer.

That’s why it’s not surprising that the enthusiasm surrounding Bitcoin has peaked. And not without reason: the massive whale withdrawals from the main exchanges point to the first signs of the next upward trend, and the growing popularity of the ‘HODLing’ strategy can be interpreted as a positive sign.

While growing interest involves altcoins, Bitcoin can take better advantage of political and economic uncertainty, as it already has the substantial potential to outperform gold.

Source: ZyCrypto

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