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The number of active bitcoin wallets has increased significantly over the past two weeks, which led to a recent jump in the value of the first crypto asset, Bloomberg reports referring to the research from the Flipside Crypto project.
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As follows from the analysis, many crypto wallets containing bitcoins were activated during the two weeks before the crypto market surge. This led to the fact that the value of BTC jumped sharply on April 2, 2019, gaining 15% within 12 hours and overcoming the $4500 mark for the first time in 2019.
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According to the analysts, from 40% to 50% of all bitcoins in circulation is contained in wallets that were inactive for a period from one month to half a year. As of March 15, 2019, this figure fell to 10%.
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Eric Stone, a Flipside Crypto co-founder, noted that more and more people are inclined to the idea of acquiring bitcoin. He added that price movements usually occur because of interest in cryptocurrency by several large holders.
⏺️ Dave Balter, the Flipside CEO, believes that one can draw parallels between the recent growth of the crypto market and a similar situation in October 2018, when the price of BTC jumped sharply by 40%. He stated that this time the market movement can be called much more reasonable, which probably indicates a change in perception and an increase in confidence in this class of financial instruments.
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