The price of bitcoin (BTC), according to Fibonacci and Elliot waves

Exchange has released its annual Crypto Market Sizing Report 2022. The number of people owning bitcoin has increased by 20% year over year.

Bitcoin, how many legions?

According to, 219 million people hold bitcoin compared to 183 million a year earlier.

Knowing that all the BTCs are found on only 44 million addresses. And that each bitcoiner having its own wallet generally uses many addresses.

In other words, the vast majority of people who own BTC do the mistake to leave them on the exchanges.

If we include the thousands of existing cryptocurrencies, the figure soars to 425 million souls, compared to just over 300 million in its report last year.

According to the CEO of Coinbase, 1/4 of households in the United States have already used bitcoin or another cryptocurrency.

Regarding Ethereum, 87 million people would own it, against 24 million a year ago.

In other words, 119 million people own neither ETH nor BTC, but other cryptocurrencies.

Source :

According to the exchange, “The main catalyst for Ethereum’s high adoption rate in 2022 was the ‘Merge’, which marked the network’s transition from consensus Proof-of-Work to Proof-of-Stake.”

Many have anticipated an appreciation of ETH shortly before this long-awaited molt. However, the bear market was stronger and ETH is still down since the Merge of September 15, 2022.

Which countries are at the forefront?

Nigeria is one of the fastest growing countries for BTC adoption. In any case, this is what Google searches suggest for “How to buy bitcoin”.

It is also prime for the query “How to mine bitcoin” :

And here is the ranking of the countries where people are most looking for how to buy bitcoin:

1/ Nigeria
2/ Cameroon
3/ Ghana
4/ Cyprus
5/ Ethiopia
6/ Jamaica
7/ United States
9/ South Africa
10/ United Arab Emirates
11/ Singapore
12/ UK
14/ Australia

Most countries with very high inflation are not in this ranking. The reason is simple. When it’s too late, it’s too late…

Not to mention that as an afterthought, countries plagued by hyperinflation institute capital controls that prevent buying BTC abroad.

That said, Ghana, Ethiopia and Nigeria still have an inflation rate of 54%, 33% and 21% respectively. Note also the presence in Nigeria of the Paxful exchange, which is working miracles there.

Concerning Cyprus, the inhabitants are still traumatized by the “haircut” of 2013. At the time, Cypriots had lost 60% of all their savings above 100,000 euros. Hence this craze for bitcoin.

The popularity of Bitcoin in Canada as well as Australia is most likely linked to the extreme deprivations of freedom suffered during the Covid psychosis. As a reminder, Canadian banks have deactivated the credit cards of Canadian truckers who were demonstrating against the lockdowns.

The presence of many crypto influencers in Dubai is surely no stranger to the dynamism of the United Arab Emirates.

Sooner or later, 8 billion people will save in Bitcoin.

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