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Composition of Bitcoin's investor base is rapidly shifting


07 Aug 2020   #Bitcoin

This shift comes as more investors start turning to the benchmark cryptocurrency due to its status as a “hard asset” – which many be sparking a trend of accumulation amongst investors. One group, in particular, that might be behind this trend is young investors. A recent analysis from banking giant JPMorgan shows that this group is widely accepting Bitcoin as both a store of value and as an alternative to the U.S. Dollar.

This trend was highlighted in a recent post from analytics firm Glassnode, in which they explain that over the past five years, the percentage of the BTC supply owned by entities with less than ten BTC has grown by nearly 9%. They also note that the percentage of the supply owned by entities holding between 100 and 100,000 BTC has declined from roughly 63% to 49.9% currently.

NewsBTC reported yesterday that a recent analysis put forth by JPMorgan revealed that the younger generations have a high inclination to invest in Bitcoin. “The two cohorts show divergence in their preference for ‘alternative’ currencies… The older cohorts prefer gold while the younger cohorts prefer bitcoin,” the bank’s analysts wrote.

Because Bitcoin is currently performing incredibly well against a backdrop of immense money printing and economic turbulence, there’s a high chance that this trend will only pick up steam as demand for “hard assets” continues growing.

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 86% 25 $47 309.00 -0.34% 3.45% $890 282 304 276 $28 604 177 175
2 Ethereum (ETH) ETH Ethereum predictions 75.6% 52 $3 417.43 -3.80% 2.40% $401 762 910 383 $17 646 542 653
3 Cardano (ADA) ADA Cardano predictions 65.6% 64 $2.36 -2.78% -2.84% $75 436 036 466 $2 527 629 911
4 Binance Coin (BNB) BNB Binance Coin predictions 65.6% 70 $410.66 -3.23% 0.71% $69 047 505 721 $1 529 493 534
5 Tether (USDT) USDT Tether predictions 92.8% 1 $1.000311 -0.03% 0.01% $68 275 219 498 $68 719 586 559
6 XRP (XRP) XRP XRP predictions 74.4% 54 $1.068824 -2.35% -0.63% $49 830 976 158 $3 095 745 091
7 Solana (SOL) SOL Solana predictions 59.6% 89 $140.85 -8.67% -21.28% $41 807 570 521 $4 476 422 451
8 Polkadot (DOT) DOT Polkadot predictions 58.8% 82 $33.75 -2.64% 13.72% $33 334 610 376 $2 364 524 077
9 Dogecoin (DOGE) DOGE Dogecoin predictions 66.8% 66 $0.241375 0.88% -1.42% $31 698 380 856 $2 261 087 296
10 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000295 0% 0.01% $29 327 554 493 $2 829 894 541
11 UniSwap (UNI) UNI UniSwap predictions 74% 57 $24.63 -5.61% 9.59% $15 063 186 503 $544 649 320
12 Avalanche (AVAX) AVAX Avalanche predictions 66.4% 69 $63.96 -1.40% 31.61% $14 090 119 806 $1 999 312 778
13 Terra (LUNA) LUNA Terra predictions 65.2% 67 $34.98 -7.58% -13.63% $14 051 719 431 $1 166 758 123
14 Binance USD (BUSD) BUSD Binance USD predictions 92.4% 1 $1.000213 -0.02% 0% $12 829 052 361 $5 673 496 967
15 Chainlink (LINK) LINK Chainlink predictions 69.2% 58 $28.20 -5.81% 3.88% $12 787 409 198 $1 485 225 154

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