As of the onset of Q2 2023, Bitcoin (BTC) has exhibited a remarkable performance, having accrued a year-to-date gain of more than 80%. The surge in the value of the cryptocurrency has resulted in a significant increase in the count of individuals who possess a net worth of at least one million units of Bitcoin. During the middle of April, over 50,000 individuals became newly minted Bitcoin millionaires.
As per the information gathered by Finbold, the count of Bitcoin millionaire addresses as of April 14th stood at 80,659. This indicates a surge of 187% in the number of BTC millionaire owners, which is equivalent to 52,575 individuals, compared to the previous count of 28,084 as of January 5th.
As per the information furnished by BitInfoCharts.com, there are 74,912 distinct Bitcoin addresses that possess a balance exceeding $1 million. Furthermore, there are 5,747 addresses that hold Bitcoin with a value exceeding $10 million.
According to data retrieved from the Wayback Machine web archive, on January 5, 2023, there were around 24,279 Bitcoin addresses that held a minimum value of $1 million, while 3,805 addresses held Bitcoin worth more than $10 million. The current upswing in Bitcoin’s value and the consequent rise of new millionaires can be attributed to the cryptocurrency market’s resilience in the face of challenging circumstances in 2022, including high inflation and the FTX collapse.
Despite the March banking crisis and the uncertainty surrounding Binance, Bitcoin has persistently risen and has recently attained a peak of $31,000.The robust upward trajectory indicates that the market for cryptocurrencies is persistently gaining momentum, notwithstanding the challenges encountered in the past.
As investors aim to broaden their investment portfolios and take advantage of the potential of digital assets, Bitcoin continues to be a preferred option for those looking to capitalise on the momentum of this dynamic and exciting market.
As per the information obtained by Finbold on April 14th, the present trading value of Bitcoin is $30,710, which has increased by 1.6% in the last 24 hours and 10% in the preceding week. The total market capitalization of Bitcoin stands at $594 billion. According to a tweet by Michael van de Poppe, a cryptocurrency trading analyst, on April 14, investors should brace themselves for some minor adjustments as Bitcoin nears significant resistance levels ranging from $31,700 to $32,000.
As per the forecast made by the cryptocurrency community, the mean value of Bitcoin was anticipated to touch $23,561 by the conclusion of April, and this projection has been historically accurate to the extent of 83%. On the contrary, the machine learning algorithms made a projection of $30,697 for the identical date, which is in closer proximity to the factual price.