Home Business 30% of all Bitcoins haven’t been moved for 5 years: good for...

30% of all Bitcoins haven’t been moved for 5 years: good for the price?

Crypto nieuws vandaag: Cruciale week voor bitcoin, ripple rechtszaak en meer

A record amount of no less than 75% of Bitcoin (BTC) is currently in the hands of long-term investors. Additionally Treasure Blockchain analytics platform Glassnode that just under 30% of the circulating BTC supply has been dormant for five years or more.

Long-term BTC holders

Over the years we are getting closer and closer to the absolute limit of 21 million bitcoin. There will never be more than 21 million bitcoins in circulation. At the time of writing, 19.45 million BTC already exist, meaning 5.67 million BTC have not been moved since 2017. This means that these wallets did not sell during both the December 2017 Bitcoin price peak and November 2021, but held steady.

At the beginning of 2022, the number of digital coins that had not been moved for 5 years or more was only 20%. In 2016, this value was even 10%. There are several reasons for this increase. It seems that the longer the project exists and remains successful, the more long-term investors will jump in. Some bitcoins remain dormant forever because users lost access.

Glassnode also studied the number of investors currently holding their BTC for 155 days. The 155-day limit is considered the minimum limit above which someone can be considered a long-term investor. That number has increased Last month already towards 75%. In the last 7 days, the total has increased by almost 44,000 BTC, giving all long-term investors a chance record of 14.6 million bitcoins managed.

Long-term investors fuel the bull market

Investors who are less likely to panic when the price rises or falls are essential to a bull market. This group exerts limited selling pressure that can send the price skyrocketing. Historically, we see an increase in the number of long-term investors before bull The market begins.

No Comments

Leave A Reply

Please enter your comment!
Please enter your name here

Exit mobile version