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Almost 70% of Bitcoin (BTC) millionaires disappeared in the first half of 2022

Almost 70% of Bitcoin (BTC) millionaires disappeared in the first half of 2022

Secure Bitcoin (BTC) millionaire status! Since the beginning of the year, the cryptocurrency market has lost more than $ 1 trillion compared to the previous market capitalization. This fall was due to the downward pressure on cryptocurrencies, which was the result of a worldwide crisis over the entire digital asset industry. The fall in the number of Bitcoin millionaires has a major impact on the cryptocurrency crisis. A staggering drop of almost 70%.

Bitcoin (BTC) millionaires have declined 70% due to the cryptocurrency crisis

Current data shows that the number of Bitcoin millionaires as of June 29, 2022 was 30,626. Specifically, addresses with a BTC balance over $ 1 million amounted to 26,284, according to statistics from BitInfoCharts.com. While 4,342 launches had a combined balance of about $ 10 million or more. But the most remarkable thing comes when we compare these figures with the figures for January 5, 2022. In fact, on this date, 99,092 BTC addresses with a value of more than $ 1 million BTC were reported. This represents a fall of 69.09% since the beginning of the year.

Significant drop when comparing today’s bitcoin (BTC) with bitcoin at its peak

Since early January, the number of Bitcoin millionaires has dropped significantly, but the fall is even more significant if we go back to an earlier date … Specifically, until October 2021, when BTC was trading at the highest rate. . The loss is far more dramatic. In fact, when 116,139 Bitcoin addresses were confirmed as millionaires on October 28, 2021, that would show a decrease of 73.62% between that date and June 29, 2022.

Bitcoin (BTC) stabilizes around $ 20,000, but still fails

A number of issues continue to have a negative impact on asset performance. Some of them include increased regulatory scrutiny, volatile market conditions, geopolitical turmoil, rising inflation and rising interest rates. With such market uncertainty, more and more crypto traders are trying to shorten Bitcoin. At present, BTC is currently trading at $ 19,143, down 4.74% over the past 24 hours and down 6.06% from the previous week, with a total market value of $ 365 billion, according to data from CoinMarketCap.

70% fewer Bitcoin millionaires… This figure may look great. However, the reality of the BTC course forces us to accept the obvious. With nearly two-thirds of its value lost, bitcoin caused many people to lose, especially those who had invested large sums. All hope is not lost, because the cryptocurrency can always see its price go up. And in this case, the Bitcoin millionaires will once again abound.

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Gregory Morat

A student passionate about entrepreneurship and interested in the technologies behind cryptos! Yes, I’m sure the two are closely linked: blockchain and NFTs are revolutionizing many sectors and presenting unprecedented opportunities.

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