344K New Wallets Created In Just 2 Days

Bitcoin is experiencing a spectacular surge, with more than 344,000 new wallets created in just 48 hours. This explosion of adoption, fueled by the fear of missing out (FOMO), marks an unexpected return of a phenomenon often perceived as bygone. While the growing enthusiasm around BTC demonstrates renewed confidence, this momentum also raises questions about the strength and sustainability of this rise, as well as its possible long-term repercussions.

Bitcoin Rush : An Uncontrollable FOMO

Bitcoin has passed a symbolic milestone by exceeding $100,000, a psychological level that catalyzed the arrival of new investors who had previously been hesitant. According to Santiment, a market analysis platform, 344,620 new Bitcoin wallets were created in the 48 hours following this price surge.

This impressive number of new investors reflects an increase in crypto adoption, a phenomenon directly driven by the fear of missing out on a new bullish wave. The situation has led to a renewed confidence in the market, wiping away the fears of investors who had anticipated a correction after a complicated start to the year.

Here are the key points of this situation :

• 344,620 new Bitcoin wallets created in 48 hours, according to Santiment ;
• The bitcoin price crossed $100,000, an important psychological threshold ;
• A 3.54 % increase in its price over 24 hours, reaching $103,361 ;
• Trading volume increased by 34.15 %, with a total of $72.99 billion exchanged;
• A return of confidence in the market contradicting bearish forecasts.

This performance has been praised by many analysts who see it as a break from the prevailing bearish prospects. The price surge has thus led to a significant increase in trading volume, clearly showing that interest in bitcoin is far from marginal and that new investors, hoping to capitalize on the rise, are rushing to buy.

Risks of a Reversal : A Double-Edged Speculation

Although the market seems to bring new hope for bitcoin holders, this situation is not without danger. Indeed, such a speculative movement can quickly reverse. If the market experiences a correction or if investors decide to sell to limit their losses, the huge influx of new wallets could turn into selling pressure.

Changpeng Zhao, former CEO of Binance, points out that it is essential not to panic and to remain calm amid these fluctuations. He stated: “It is important not to give in to the temptation to sell in haste.” He calls on investors to adopt a more thoughtful approach.

The volatility of bitcoin, exacerbated by this type of rapid rise, raises questions about the long-term strength of this increase. If corrections are expected, the impact on the market could be significant, especially for those who rushed to buy during this “FOMO” phase.

This phenomenon is not new in crypto history, but it reminds us that behind the euphoria, risks of speculative bubbles remain. Some analysts are concerned that this “FOMO” dynamic could become a true market break, pushing for even more pronounced volatility.

Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.