hey everyone and thanks for jumping back into the cryptoverse today we're going to talk about bitcoin and we're going to be diving into some on-chain data specifically we're going to be looking at long-term trends in wallet sizes holding various amounts of bitcoin so the number of wallets holding various amounts of bitcoin as a function of time to try to understand if there are any trends that are worthwhile to consider if you guys like the content make sure you subscribe to the channel give the video a thumbs up and also check out the telegram channel which you can find a link to in the description below now the reason i'm doing this is because i do think it would be beneficial for viewers of this channel to also be exposed to on-chain data okay it is an important part of of the cryptocurrency asset class and up until now i haven't done the best job of communicating on chain data that well we've talked about it some but but certainly we've left a lot to be desired so we're going to try to provide some periodic updates to various on-chain metrics all right so and by the way all of this you can access through the premium list into the URL_TOKEN so what we're looking at here is the amount of unique bitcoin addresses that hold at least NUMBER_TOKEN bitcoin now before we get into this there are some caveats i i should say to unchain data theoretically speaking a lot of this stuff could be easily easily manipulated okay so do consider that and and you guys know i don't say that lightly in terms of you know price manipulation because anytime the price goes down so many people yell out price manipulation if it's not hitting their hitting their price targets which i think is is ridiculous but there is some truth to the idea that on chain analysis on-chain metrics could be subject to some type of manipulation if you think about it if someone bought one bitcoin they could theoretically send NUMBER_TOKEN NUMBER_TOKEN of a bitcoin to um you know a thousand different wallets and then it'll look like you have a thousand different people that just picked up NUMBER_TOKEN bitcoin when in fact it was one person sending it to a thousand different wallets now i hope there's no one out there sending bitcoin to a thousand different wallets i hope they have a better use of their time than that but you get the idea right there are going to be instances where what you see in the on-chain data might not be the most reliable but that doesn't mean we can't learn some things all right so the first thing we're going to look at here wallets addresses that hold at least point zero zero one bitcoin so this is not wallets that just hold point zero zero one bitcoin it's wallets that hold point zero zero that hold at least at least NUMBER_TOKEN bitcoin they could also hold NUMBER_TOKEN bitcoin and they would still be included in this chart all right what do you notice when you look at this chart well um i mean it's mostly up right uh you know i've i've a lot of on-chain analysts they always you know everything always looks so bullish right and when you look at these charts it's hard to hard to um fault them for right you just look at the chart it looks like wow i mean there's more and more more and more addresses that are holding at least a little bit of bitcoin so why shouldn't the price trend up with time and i mean to be frank that's what the price does right
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