The dramatic decline in the value of the cryptocurrency in May and June seems to have occurred simultaneously as a rise in wallet accounts holding multiple Bitcoins.
During the cryptocurrency downturn, smaller Bitcoin (BTC) traders have discovered a special opportunity to purchase their preferred cryptocurrency. Since the slump in June alone, there have been 40,000 more wholecoiners.
Since January 31, when the price of one bitcoin was around $38,000, according to LookIntoBitcoin, there have been an increasing number of Bitcoin wholecoiners.
But in May and June, when 25,389 new wallets were created, the price of Bitcoin dropped by almost 27% and 40%, respectively.
At the time of writing, the price of BTC is $23,035, off 64% from its ever-high (ATH) of $64,400 in November 2021. As of August 1, 2022, there are 891,346 wholecoiners, which is also an all-time high.
BTC Wholecoiners Going Up Since The Crash Begun:
The statistics show that within the same period, the number of wallets storing more than 10 BTC, 100 BTC, and 1000 Bitcoin has started to taper off or even fall.
Since May, wallet addresses that contain more than 10 BTC have increased by only 600, those that contain over 100 Bitcoin have decreased by 125, and those that contain more than 1,000 BTC have decreased by 113.
Since the middle of July, the price of bitcoin has risen. There are differing views on whether Bitcoin has reached its bottom or whether further declines are still to come.
Investor and crypto expert Lark Davis has recently taken Twitter to share his views on this situation. He stated that many people are hitting their targets with wholecoins.
The market is currently indicating bullish whole coin movements for wholecoiners.