3 months ago 2 min read

Early in 2023, Bitcoin Records New High

bitcoin-glassnode-ftx-lightspark-david marcus

According to Glassnode data, a record-high 11,426,629 addresses were holding more than 0.1 Bitcoin on January 1.

This indicator demonstrates that small-scale traders are still actively acquiring Bitcoin. Since the Terra and FTX crises, the market has been "purified," which has resulted in a sharp decline in BTC trading volume and value.

Tim Draper, a billionaire venture capitalist who made significant profits from his early investments in Tesla, Skype, and Hotmail, tweeted for the first time in 2023 that BTC would continue to be his preferred currency.

But when compared to the recent price movement, BTC has not showed any gains. The crypto market will experience a significant sell-off for the first time ever in 2022. Of course, Bitcoin is not exempt from this catastrophic condition; in fact, it has just registered 4 consecutive red quarter candles, a record.

Not everyone, though, is positive about Bitcoin. David Marcus, the founder and CEO of Lightspark, said that Bitcoin and other cryptocurrencies will not be able to recover from the impact of "unscrupulous players'" behavior until at least 2024.

Marcus said that until 2023, their ghost would haunt the Bitcoin industry. He only mentioned FTX once, but even then, he issued a warning that "unscrupulous players" would continue to undermine the market well into the following year.

BTC is now trading at $16,557 at the time of writing.

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