Bitcoin, which recently reached its all-time high of $73 thousand, then entered a retreat trend. During the last bull season, it was claimed that Bitcoin introduced 1,500 people into the millionaires club every day.
Bitcoin, the first cryptocurrency that comes to mind when it comes to blockchain, has been on a serious rise since the beginning of the year. In addition to the recovery in markets, Bitcoin With the halving approaching, it was even started to be talked about that the bull season had started. Bitcoin in the current month, 73 thousand dollars It reached its all-time high. Later, Bitcoin, which first dropped to 62 thousand dollars, then returned to 65 thousand dollars.
Blockchain analysis company CryptoQuant According to the report published by Bitcoin, contrary to what some investors fear, it is far from leaving the bull season behind. Making a statement on the subject, Gate.io Global Growth Director Kafkas Sonmez“The report in question takes into account the relatively low investment flow from new investors and the fact that price appreciation measurements are below the levels seen in past peaks. It is stated that a bull cycle is over when 84% to 92% of the cash flow comes from new investors, while in Bitcoin this rate is currently 48%.” he said.
1,500 new millionaires every day…
In the report, Bitcoin prices Recent price changes have been likened to corrections in 2019. It was stated that the share of cash flow from new Bitcoin investors in total money inflows was less than half. According to this point, the recent retreats in Bitcoin are a correction and the bull season will continue.
Again, according to the report, the return obtained from Bitcoin exits for profit exceeded 3.5 billion dollars and reached the highest level of all time. Sönmez, citing a report they reviewed in the week when cryptocurrencies reached their peak, said: “We saw that Bitcoin made 1,500 people millionaires every day during the bull season. Although it is not clear who these people are or whether they are a person or an institution due to the confidentiality of the wallets, it can be determined that Bitcoin has been instrumental in significant gains in the short term. Despite this, bitcoin millionaire The growth is slow, the main reasons for this are the profit moves of whales and the fact that new investors may not have met Bitcoin yet. Despite this, the last bull run left 4,000 investors with over $10 million in wealth.” he said.
What do you think about Bitcoin’s bull season? Do you think this period will continue?