The number of whales holding 1,000 BTC reached 2017 levels

According to data from data provider and market observation agency Glassnode, the number of entities holding BTC has surged. Data show that there are currently about 1,838 whales holding at least 1,000 bitcoins, which is the highest level since bitcoin reached a record high in 2017. As can be seen from the chart, the number of entities holding more than 1,000 BTC in 2017 is equal to the current number. However, it must be noted that the market was in a bull market in 2017, and the price of Bitcoin was close to $ 17,000. However, the current price of Bitcoin is far from this figure. After the end of the bull market, entities holding more than 1,000 BTC fell to nearly 1,600 in April 2019. However, after the bitcoin price rose more than 25% within a day, this number was greatly promoted. In fact, it can be noticed that whenever the price of BTC spikes, the number of BTC holders also increases. Similarly, by January 2020, this number had risen without any decline. Even though the price of Bitcoin has fallen many times, the number of holders with at least 1,000 BTC is still increasing.