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50% of all bitcoins have not moved in a year

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Bitcoin May Drop Significantly at $50,000 Then Move to $100,000

50% of all bitcoins have not moved in a year
CONTENT

  • The number of bitcoins that have not been in motion for a year already exceeded 50% for the first time.

  • This indicator can serve as an indication of the fundamental strength of the bitcoin market and belief in the protective status of the BTC..

  • However, it is possible that some of these coins are simply lost..

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More than half of all bitcoins in circulation have been dormant for a year. This may indicate a high interest in currency hodling..

Loyal bitcoin hodlers continue to hold an impressive amount of the total BTC in circulation in a static state. Twitter user Benjamin Celermajer (@CelermajerB) shared the latest stats on this topic with his readers. According to the cryptoanalytic resource Coin Metrics, the indicator of bitcoins not moving for one year (1-year HODL Factor), for the first time, exceeded the threshold of 50%, updating the historical high.

Benjamin Celermajer saw this as a bullish sign of the fundamental health of bitcoin. In his opinion, the indicator reflected the growing interest in MTC from long-term investors.

Loyal hodlers believe in a bright future for bitcoin

50% of all bitcoins have not moved in a year

Indeed, an increase in the hodling rate over a significant time period may indicate that coin owners are not eager to spend their coins. Instead, they prefer to keep them “for the future”, expecting – as it would be logical to assume – the growth of the asset.

Earlier, the editorial staff of BeInCrypto repeatedly told how bitcoin whales withdraw their funds from crypto-exchanges to wallets for long-term storage. Such transactions are traditionally considered a kind of vote of confidence and inspire the crypto community..

Many experts have also repeatedly stated that hodling continues to be the optimal strategy for Bitcoin. This opinion is shared by the participants in the crypto space themselves. As statistics show, whales are not the only hodlers. Earlier we said that this spring the number of bitcoin addresses with at least one BTC on their balance has renewed its historical maximum. In addition, the number of wallets with a non-zero balance has also grown steadily over the past two years..

Not without a fly in the ointment

Thus, we can make an optimistic conclusion that bitcoin hodlers vote for this cryptocurrency, continuing to consider it a protective asset, no matter what.

However, in the comments to the aforementioned post by Benjamin Celermajer, skeptics were quick to ask how many of these bitcoins were “dormant” simply because their owners lost or lost access to their wallets. So, for example, one of the users said that about 20% of all mined bitcoins are considered lost..

Do you think hodling is the most effective trading strategy when it comes to a volatile asset like Bitcoin? Share your opinion in the comments and join the discussion in our Telegram channel!

Disclaimer

50% of all bitcoins have not moved in a year

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