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Interest of retail investors in bitcoin is growing. The number of not only long-term hodlers has increased BTCbut also those who opened a wallet less than a month ago.
According to the analytical resource IntoTheBlock, the number of new bitcoin addresses is growing rapidly, including the number of BTC wallets that hold coins for less than 30 days. Presenting this data, IntoTheblock experts commented that traders tend to follow the bitcoin rate.
New investors come to bitcoin
Age of BTC addresses: IntoTheBlock
The number of Bitcoin hodlers who have joined the crypto community has increased by 3.77% over the past month. This is an indication of recent glimmers of optimism and could be a harbinger of BTC gains in the coming months as it often correlates with the price of the coin.
See also: How to make money on cryptocurrency and not go crazy: psychologists explain
Meanwhile, as noted in IntoTheBlock, over the same period, the correlation of bitcoin with precious metals such as gold, silver and platinum has decreased. The drawdown of this indicator for the above metals was -0.52, -0.39 and -0.52, respectively, which became the minimum levels since August 2021.
Correlation of BTC with Gold, Silver and Platinum: IntoTheBlock
Read the special article: No longer digital gold: investors revealed their attitude towards bitcoin against the backdrop of the conflict between Russia and Ukraine
As before, the number of long-term BTC hodlers remains stable. The number of investors holding bitcoin addresses for more than a year is at an all-time high and continues to grow. Such addresses make up about 57% of the total number of BTC movers, according to IntoTheBlock.
It seems that retail investors are still not ready to give up bitcoin, despite its volatility in the face of recent geopolitical events.
Trajectory BTC in 2022
BTC course: TradingView
At the moment, bitcoin predictions for 2022 are highly uncertain. In addition to the above-mentioned international events, many ambiguities remain in the issue of regulation of the crypto market.
There is also no consensus on how the Russian-Ukrainian conflict will affect the crypto space. On the one hand, enthusiasts believe that the Russians can begin to actively explore the crypto space in order to circumvent the financial sanctions of the West, and other investors will begin to actively use bitcoin as a means of hedging market risks.
On the other hand, we have seen that the prices of crypto assets have fallen since the beginning of the conflict, and the Russians are in no hurry to move into the crypt, and there are no guarantees that they will begin to master the crypto space at all.
However, institutional investors are not lagging behind retail investors, also showing an increase in interest in crypto assets, and this is a good sign. Perhaps clarifying the situation with regulation will help eliminate some of the uncertainty and provide support for digital assets.
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