After last year’s bear market, bitcoin once more achieved significant growth, which made more than 44 thousand people crypto millionaires.
According to Finbold’s data, the number of addresses with bitcoin millionaires was 28,084 on January 5, but 3 weeks later, on January 28, the same number had already reached 72,483, which means an increase of roughly 61%. During this period, the price of BTC increased by 37%.
According to BitInfoCharts.com, a total of 67,551 addresses currently hold over $1 million in bitcoin balances, and there are 4,932 addresses that hold more than $10 million worth of BTC. At the same time, the bitcoin rally has not only increased the number of crypto millionaires, but has affected all crypto owners. 60% of bitcoin holders gain from the current price increase, while 35% lose, and the remaining 5% break even.
The policy of the American central bank may bring regarding a further increase in the exchange rate
The rise in the exchange rate and the increase in the number of bitcoin millionaires is due to the crypto market leaving behind the bear market situation of 2022, in which high inflation and events like the FTX crash played a part. The falling inflation rate in the United States also played a big role in the increase of the exchange rate, and since the US has probably won the war once morest inflation, the aggressive policy of the American central bank can be expected to ease. Therefore, assets such as bitcoin can expect further growth.
However, the various indicators do not clearly indicate the approach of a bull market. Because BTC is right in front of the dreaded death cross, this shape has already caused a significant drop in the exchange rate. However, there is also the possibility that the cryptocurrency will go through the golden cross formation, which might bring a sustained growth.
By the way, the golden cross is formed when the 50-day moving average crosses and crosses the 200-day moving average, and this can already predict an upcoming bull market.
The price of BTC has increased by more than 39% in the last 30 days
At the time of writing the article CoinGecko according to his data, bitcoin is trading at exactly $23,000, and while this is only a 1.4% increase over the past 7 days, considering the past 30 days, the price of BTC is up more than 39%.
In the near future, however, a lot depends on whether bitcoin will be able to maintain the exchange rate above $23,000, which was previously considered a critical limit. Analysts believe that if BTC stays above $23,000 in the next period of time, it may result in further price growth.
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