Bitcoin sheds ‘dumb money’ as retail buys most BTC since March 2020 crash

cointelegraph.com:

Bitcoin (BTC) is back in fashion for regular investors at $48,000 as data confirms the biggest buying spree since March 2020.

In a tweet on Dec. 14, statistician Willy Woo eyed a key trend that had previously been absent from the Bitcoin market for over 18 months.

After crashing to $3,600 in March 2020, BTC/USD was a hot pick for those able and willing to invest — and now, that phenomenon is back.

The changes in balances for wallets holding 1 BTC or less — typically suggesting smallscale investors — have reached their highest since March 2020.

While the circumstances remain the same — coronavirus fears and macro market jitters over central bank policy — the major difference at the end of 2021 is that Bitcoin costs $48,000, not $3,600.

Nonetheles