Bitcoin at $19k as $1M+ Bitcoin-Holders Drops to 26k

“Remember when you said you wish you could buy #bitcoin under $20k…” David Gokhshtein tweeted on Thursday, suggesting that now is your opportunity to buy as Bitcoin is now sub $20,000, hovering slightly above $19,000. 

At the time of writing, Bitcoin was valued at $19,117, bringing the prized digital asset down 4.37% in the last 24 hours. Bitcoin is in the midst of a two-week long consolidation period, staying between $19,000 and $22,000. Here is a look at the king of crypto’s last month via Bitpush’s Terminal. 

Investors are pulling their funds out of Bitcoin with a recent statistic from Wacher.Guru showing that addresses holding $1 million or more in Bitcoin have fallen from 108,886 in November to 26,300 as of Thursday. 

This most recent daily dip comes as Federal Reserve Chairman Jerome Powell posited that he expects inflation to continue to rise during this post-pandemic and Russian war era, when he spoke at the European Central Bank’s conference Wednesday. 

However long-term crypto holder Crypto Rover, on Twitter, is staying optimistic on Bitcoin and doubles down on his position. “I AM LONG-TERM BULLISH ON #BITCOIN!,” the Bitcoin enthusiast tweeted. 

The Rover also tweeted a graph showing where Bitcoin could potentially be by 2030. 

Bitcoin’s price is just one of the many aspects in the crypto market that is experiencing the ramifications of a beat market. Not only have the vast majority of cryptocurrencies fallen, but insolvency and potential buyouts are running rampant. Three Arrows Capital was forced to liquidate and Celsius was advised to declare bankruptcy. FTX gave BlockFi a $250 million credit line and is not considering a complete buyout of the company.

Author: Tyler Irvin

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