Bitcoin retail purchase rates have been rising lately. These metrics show how much individual Bitcoin investors are buying and at what prices they are buying those coins. Now, this metric hit an all-time high in 2017/2018, at the peak of the bull market at that point. So, what rate does it display in the current situation?
Retail Bitcoin investors soar
As the current rate approaches the rate from 4-5 years ago and retail investors accelerate buying, this is with another bull rally that sent the biggest cryptocurrency to an all-time high. Whether it is related or not is debatable. In a chart posted on Twitter, market analyst Will Clemente showed that individual investors are currently buying the cryptocurrency at the second-highest rate in history. Clemente noted that most spikes in individual investors’ holdings often coincide with those of macro tops.
However, there are times when these investors take a more strategic approach to their purchases. has also been. As for this, the analyst explains that this is an outlier. The most important aspect of this, on the other hand, is that there is no clear indication of where the price might go. According to experts, this is not only a bullish signal that could precede another top, but it could also lead to another low. Clemente uses the following phrases:
Either we are screwed or individual investors have chosen to use Bitcoin as a savings account and exit the fiat system. The optimist in me hopes for the latter.
BTC ready for another rally?
Bitcoin halving events also caused an increase in the value of the crypto. However, there are halving events that can also be important to the price of the digital asset. Usually, after a halving event, the peak is reached after 515 to 545 days. So far, Bitcoin has passed this point as the new year begins, meaning the next major event is halfway. As we reported on Kriptokoin.com, the last halving event saw the BTC price drop drastically after July 2018. It’s no secret that a long bear market followed.
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