Bitcoin Price Prediction 2022 – Is BTC Preparing for a 30% Move?
During the European session, Bitcoin is trading bullish, having bounced off above $18,900 to trade at $19,300. According to data compiled by cryptocurrency research firm Santiment, the proportion of large investors who hold the cryptocurrency with the largest market capitalization, Bitcoin (BTC), is growing.
At the same time, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone reports that the BTChash rate discount is at a record low not seen since the second quarter of 2020.
The recent research from cryptocurrency research firm Santiment could be one of the reasons for BTC's price action. According to Santiment, the number of Bitcoin whale accounts holding between 10,000 and 100,000 BTC ($190,000,000 and $1,900,000,000) has hit its highest level since February 2021.
Moreover, the number of addresses carrying between 10 and 100 BTC ($190,000 and $1,900,000).
According to the analytics firm, the percentage of Bitcoin addresses with holdings of between 0.1 and 10 BTC has risen to an all-time high of 15.9%. Contrarily, the percentage of Bitcoin's supply held by those with holdings of 100 to 10,000 BTC is at its lowest point since June 2019 at 45.6%.
Stablecoin market caps are at their lowest level since last December, according to Santiment.
Although Bitcoin's price has been tossing in a narrow trading range over the previous few weeks, the cryptocurrency's hashrate has not. It has been rising for some time now and consistently sets new records.
Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, says that the BTC hashrate discount is at a record low that hasn't been seen since the second quarter of 2020.
Bitcoin's price has been stable at around $19,000 for the past 24 hours. When we take a step
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