While the rally in Bitcoin and altcoins pleases investors, it is wondered whether this rally will continue.
At this point, the Glassnode analyst, known by the nickname Checkmate, said that addresses holding less than 1 Bitcoin, namely shrimp, have recently accumulated 33,800 BTC per month.
Sharing that miners are currently extracting about 27,000 BTC per month, Glassnode analyst stated that as soon as a new BTC comes out, it is withdrawn from the market by shrimps.
Stating that this investor group, known as Shrimp, has aggressively bought BTC, the analyst said that they hold 1.33 million Bitcoins in their hands.
According to the analyst, these investors last accumulated BTC this aggressively in 2017, after which Bitcoin reached $20,000 for the first time in history.
“Shrimp holding less than 1 BTC are aggressively buying Bitcoin and are accumulating 33,800 BTC per month.
The last time this group of investors stacked Bitcoin this hard was at the 2017 ATH.
Five years later, despite all the bullshit, this group of investors is accumulating BTC harder, faster and more sustainably.
This points to the bull.”
This chart is the success of #Bitcoin education visualised via on-chain data.
The last time the little guy stacked this hard was 2017 ATH, buying the top.
Five years later, they are stacking harder, faster, and in a more sustained manner, despite all the bullshit.
Bullish. https://t.co/btS9rCnOO4
— _Checkɱate 🔑⚡🌋☢️🛢️ (@_Checkmatey_) July 5, 2023
*Not investment advice.
