The number of cryptocurrency users has skyrocketed exponentially
The Halving occurred and the next thing some experts agree will be to see the price action take a balanced range in the coming weeks, as new institutional players and ETFs inject liquidity into the market.
Now, what is certain is that there has been another Bitcoin Halving, the fourth to date, and this one has been unlike any other as institutional investment has played a key role for the first time.
In Helen Partz's article uploaded to the Cointelegraph portal, "Since the previous Bitcoin halving, which took place in May 2020, the global cryptocurrency user base has added at least some 400 million users, according to various sources."
It has been announced that, "In 2020, the number of cryptocurrency owners worldwide hovered around 100 million users, according to estimates by the Cambridge Centre for Alternative Finance (CCAF). By the end of 2023, the number of global cryptocurrency users will reach 580 million people."
In closing, "With Bitcoin or most other cryptocurrencies, most user count estimates cannot be 100% accurate, as on-chain transaction analysis is often unable to differentiate between long-term holders and lost BTC, as well as other factors"
SOURCES CONSULTED
Cointelegraph. Bitcoin halving 2024: 5 ways it’s different this time. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
Yeah! It could be difficult to ascertain with accuracy the estimate of BTC holders since this year has marked a great success in its investment taking cognizance of the spot ETF that was approved imho.