After two years, Bitcoin was transferred from whale addresses to retail investors for the first time

The price of Bitcoin continued to soar, breaking through the $10,000 mark over the weekend and reaching a high of $11,200, a new high for the year.

After breaking through $10,000, the data of addresses holding Bitcoin changed. For the first time since November 2017, Bitcoin was transferred from whale addresses to retail investors.

According to bitcoinexchangeguide, the $10,000 level is expected to trigger the market's FOMO sentiment and bring the price of Bitcoin to a new high. This rebound back to $10,000 is the first peak since November 2017. One of the most interesting phenomena since the first half of this year is the dispersion of Bitcoin from the top 1% to the general public.

If we look at addresses that own Bitcoin, the number of addresses holding more than $1 worth of Bitcoin has risen by 19%, and the number of Bitcoin addresses holding more than $1 million worth of Bitcoin has fallen by 11%.

The number of addresses with more than $10, $100, $1,000, and $10,000 has increased significantly, with addresses holding $10 and $100 increasing by 33% and $1,000 increasing by 23%. The number of large Bitcoin addresses holding more than $100,000 has also dropped by 1%.

So far this year, while more than 19 million people are aware of Bitcoin and cryptocurrencies, the number of whale addresses has dropped from 18,132 to 16,145.

Interestingly, all of these Bitcoins were purchased by the general public during the 2018 Bitcoin crash to $3,150. Despite the brutal winter, people accumulated Bitcoin in anticipation of the upcoming bull cycle. Awareness and adoption of cryptocurrencies are definitely the main reasons why the number of addresses with Bitcoins worth $10 to $1,000+ rose from 23% to 33%.

Overall, this is a good sign that people are not only continuing to hoard Bitcoin during the crypto winter, but also that interest in Bitcoin remains unabated after the 2019 Bitcoin rally.

Google Trends shows interest in Bitcoin is still far from 2017 peak

Separately, according to data from Google Trends, interest in Bitcoin search terms has doubled this year. However, it is still far below the all-time high of $20,000 in 2017 when the virtual currency soared. This shows that while interest in Bitcoin has soared, retail investors and their interest in Bitcoin are still far from high.

According to Google Trends, on a scale of 1 to 100, Bitcoin’s popularity currently ranks at nearly 12, 88% below its 2017 peak.

Bitcoin Moving From Whales to People’s Hands Since 10,000 Was First Hit in November 2017

https://bitcoinexchangeguide.com/bitcoin-btc-interest-remains-far-from-its-2017-highs-according-to-google-trends/