30s Summary

Small Bitcoin investors, often termed as “shrimps”, are projected to increase by 9%, despite Bitcoin’s price crossing $100,000. Noted crypto expert Axel Adler believes in a continued rise in such shrimp wallets, which usually indicate retail interest. Conversely, older holders of Bitcoin appear to be cashing out. While this could signal a possible bearish market, experts suggest that future Bitcoin price drops may not be as severe as recent ones due to decreasing selling pressure.

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Expect more people to have Bitcoin wallets with less than 1 Bitcoin soon. Reports say there could be a 9% increase in small investors adding to their Bitcoin collection, despite Bitcoin’s price exceeding $100,000. Crypto expert, Axel Adler, mentioned in a December 14 post that these small-time investors or “shrimps” continue to believe in Bitcoin’s value.

In the world of cryptocurrency, shrimp wallets often reflect retail interest in Bitcoin. Currently, there are around 323,000 such wallets and Adler thinks it could increase by roughly 9% soon. Adler traced the start of this trend when Bitcoin was valued at $61,000 and had 265,000 shrimp wallets. Since then, there’s been a significant 21.9% increase in shrimp wallets.

At the moment, Bitcoin’s value is around $101,549, as per CoinMarketCap data. While “shrimps” continue to stack up on Bitcoin, those who’ve had Bitcoin for at least 155 days seem to be cashing out. On December 9, it was reported that such long-term holders sold 827,783 Bitcoin over the past month.

Some experts say this could be a sign that the market might switch to a more bearish tone. However, an analysis suggests future Bitcoin price dips might not be as deep as the recent 10% drop at the start of December since the selling pressure has now considerably lessened. On that note, rest assured, future drops might not come as a strong jolt as the previous one.