People Buying at Bitcoin Prices Around $30,000 Continues to Increase
2022-05-16 16:00:40
Is $30,000 The Turning Point In The Bitcoin Bottleneck In May?
Cryptocurrencies have experienced a week of market volatility after many tokens have suffered badly. Bitcoin prices fell below $30,000, and Ether hovered at $2,000. Even worse was TerraLUNA, which fell more than 100%. No one expected that LUNA, which once had a price of $109, would now be priced as low as $0.000261.
After nearly 10 days of market volatility, Bitcoin is currently trading at $30,798.09 on the Gate.io international digital currency exchange at the time of writing, down 9.6% in the last 7 days. In the last 24 hours, the price has risen by 2.4% and the volume traded was $22,905,990,925.
While the price of Bitcoin has seen a drop, the number of people who continue to buy it continues to increase. According to data reports, the number of addresses holding more than 1 BTC is now over 840,000, a record high.
According to cryptocurrency analyst Benjamin Cowen's analysis, addresses ranked 103-114 on the BTC Rich List coincidentally purchased about 109 Bitcoins on May 14, and it is reasonable to assume that the same giant whale is behind all of these addresses due to the same number of address balances and consistent behavior. This giant whale plagiarized more efficiently, with a total of only three purchases made since the addresses were created, the first in December 2018, the second in July 2021, and the third on May 14.
Bill Miller confirmed in a May 12 interview on CNBC that he owns "a lot" of Bitcoin and has not sold any of it. He is very bullish on the future of Bitcoin price live and doesn't think the recent price drop is considered bad news, Miller said, adding that investors should put some of their liquid assets into cryptocurrencies.
El Salvador became the first country in the world to make Bitcoin a legal tender in September 2021. El Salvador, which high-profile announces its plunge every time Bitcoin plunges, has lost heavily. El Salvador's transition to a blockchain and cryptocurrency-based economy appears to be a failure.
It is estimated that the cumulative losses on Bitcoin investments in El Salvador have now reached about $40 million. That's a little more than the interest the country will have to pay on its next foreign debt repayment, suggesting that the risk posed by the country's experimentation with cryptocurrencies is increasing. El Salvador's benchmark bonds due in 2032 are reportedly trading at just 40% of face value, suggesting that investors are preparing for default.
Cryptocurrencies have experienced a week of market volatility after many tokens have suffered badly. Bitcoin prices fell below $30,000, and Ether hovered at $2,000. Even worse was TerraLUNA, which fell more than 100%. No one expected that LUNA, which once had a price of $109, would now be priced as low as $0.000261.
After nearly 10 days of market volatility, Bitcoin is currently trading at $30,798.09 on the Gate.io international digital currency exchange at the time of writing, down 9.6% in the last 7 days. In the last 24 hours, the price has risen by 2.4% and the volume traded was $22,905,990,925.
Some Investors Are Continuing to Buy BTC
While the price of Bitcoin has seen a drop, the number of people who continue to buy it continues to increase. According to data reports, the number of addresses holding more than 1 BTC is now over 840,000, a record high.
According to cryptocurrency analyst Benjamin Cowen's analysis, addresses ranked 103-114 on the BTC Rich List coincidentally purchased about 109 Bitcoins on May 14, and it is reasonable to assume that the same giant whale is behind all of these addresses due to the same number of address balances and consistent behavior. This giant whale plagiarized more efficiently, with a total of only three purchases made since the addresses were created, the first in December 2018, the second in July 2021, and the third on May 14.
Prominent Financial Investor Bill Miller Is very Bullish on Bitcoin's Rise
Bill Miller confirmed in a May 12 interview on CNBC that he owns "a lot" of Bitcoin and has not sold any of it. He is very bullish on the future of Bitcoin price live and doesn't think the recent price drop is considered bad news, Miller said, adding that investors should put some of their liquid assets into cryptocurrencies.
Deeply Affected by Bitcoin Price Volatility - El Salvador
El Salvador became the first country in the world to make Bitcoin a legal tender in September 2021. El Salvador, which high-profile announces its plunge every time Bitcoin plunges, has lost heavily. El Salvador's transition to a blockchain and cryptocurrency-based economy appears to be a failure.
It is estimated that the cumulative losses on Bitcoin investments in El Salvador have now reached about $40 million. That's a little more than the interest the country will have to pay on its next foreign debt repayment, suggesting that the risk posed by the country's experimentation with cryptocurrencies is increasing. El Salvador's benchmark bonds due in 2032 are reportedly trading at just 40% of face value, suggesting that investors are preparing for default.
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