The price of Bitcoin has fallen by almost 55% since its peak in November. And according to new data Glassnoderegarding 40% of the holders of this cryptocurrency are in deep red.
This percentage is even higher when considering short-term buyers who have invested in Bitcoin over the past six months, when the price reached $69,000.
In the last month alone, more than 15% of all wallets have experienced unrealized losses as the value of one bitcoin has plummeted to $31.5k. And the close relationship between the value of bitcoin and Nasdaq quotes refutes the argument that the cryptocurrency is able to protect once morest inflation and fluctuations in traditional markets.
Glassnode analysts also noted an increase in “term transactions” – this means that bitcoin holders are willing to pay a premium value to speed up the sale process.
Experts expect that the cost of bitcoin in the next 1-3 months may fall to $29 thousand per unit.
