Small holders stepped up bitcoin purchases, says Willy Woo

Peru, Lima, Lima

Published 4 years ago

ID #1027

1 photo

Details Contact

Smart Node

Small holders stepped up bitcoin purchases, says Willy Woo

Peru, Lima, Lima,

Published 4 years ago

X-Node Details

In an update to his most recent report on the bitcoin (BTC) market, the well-known analyst Willy Woo pointed out that, with the recent correction in the price of bitcoin, there was a notorious buying attitude on the part of small holders, to take advantage of the relative low prices of bitcoin.

As of last Monday, November 15, the price of bitcoin (BTC) experienced a fall of close to 15%, as it went from USD 65,500 to a minimum of USD 55,713 on Thursday 18. After a rebound in recent days the price fluctuates around USD 59,000.

Retail or retail holders, defined as holders of 1 BTC or less, continue to buy amid the declining price trend, Woo says in his analysis.

In the graph, the blue circles represent purchases by retail holders. Currently, there is an intensification of purchases by this segment of holders.

Retailers keep buying bitcoin

The report also highlights that, while holders with less than 1 BTC continue to buy, speculative traders are holding onto their coins, as shown in the following graph of the supply shock for both groups of market participants.