Bitcoin Price Prediction: BTC Over $61,500 as 1M+ Wholecoiners Mark Milestone

In the latest Bitcoin price prediction, BTC has surpassed the $61,500 mark, coinciding with a milestone where over one million addresses now hold at least one full Bitcoin.

This surge underscores the growing trust in Bitcoin’s value and an upward trend in its long-term investment appeal.

The expansion in the number of wholecoiners highlights Bitcoin’s ongoing potential for sustained growth amidst market fluctuations.

Bitcoin Holders Surpass 1 Million: A Milestone in Cryptocurrency Growth

The realm of cryptocurrency has recently achieved a significant milestone: the count of Bitcoin addresses possessing at least one BTC has now exceeded one million.

According to IntoTheBlock, a leading blockchain analytics firm, the current tally stands at 1,010,777 addresses.

This chart shows the number of addresses holding more than 1 Bitcoin.

🪙There are currently over 1 million wholecoiners

📈There is a clear long-term trend, as more and more people aim to achieve wholecoiner status. pic.twitter.com/QrZgbRGgc7

— IntoTheBlock (@intotheblock) June 27, 2024

This milestone underscores a growing trend where individuals and organizations are increasingly accumulating Bitcoin, aiming to become “wholecoiners”—a term designated for those owning at least one entire Bitcoin.

The Rise of Wholecoiners

This increase in wholecoiners illustrates a broader confidence in Bitcoin as both a stable investment asset and a reliable store of value. The data not only reflects a heightened interest in securing a full Bitcoin but also marks a significant shift towards widespread adoption of cryptocurrency.

As noted by IntoTheBlock, the growth in the number of wholecoiners isn’t a fleeting trend but a continuous surge, underscoring the sustained trust in Bitcoin’s long-term appreciation.

“The steady climb in wholecoiner addresses highlights a robust faith in Bitcoin’s enduring value,” observes a blockchain analyst.

Significance of the Wholecoiner Milestone

Reaching over one million wholecoiners is especially notable given Bitcoin’s finite supply—only 21 million coins will ever exist. This limitation amplifies the value of owning a full Bitcoin, making the wholecoiner status not only a badge of commitment but also an increasingly rare opportunity. This scarcity is pivotal as it underpins the fundamental value proposition of Bitcoin amidst rising demands.

The significance of this milestone is magnified by the recent market movements, where Bitcoin witnessed a roughly 17% drop from its nearly $74,000 peak in mid-March, fueled by optimism around potential U.S. ETF approvals.

Bitcoin Price Prediction

Key price levels to watch include the pivot point at $61,320, immediate resistance at $62,510, and further resistance at $63,440 and $64,510. On the downside, immediate support is at $59,670, with additional support levels at $58,630 and $57,540.

The Relative Strength Index (RSI) is currently at 35, indicating a neutral stance but leaning towards oversold conditions.

The overall outlook for Bitcoin remains bullish as long as it sustains above the pivot point of $61,320. A decisive break above the $62,500 resistance could trigger a move towards higher resistance levels.

However, a fall below the immediate support at $59,670 might signal a sharp selling trend, potentially driving the price down to $58,630 or $57,540.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.