{"id":562336,"date":"2020-06-30T17:18:00","date_gmt":"2020-06-30T15:18:00","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=562336"},"modified":"2020-06-30T17:18:00","modified_gmt":"2020-06-30T15:18:00","slug":"61-of-the-bitcoin-btc-supply-has-not-moved-in-over-1-yr","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/61-of-the-bitcoin-btc-supply-has-not-moved-in-over-1-yr\/","title":{"rendered":"61% Of the Bitcoin (BTC) Supply Has Not Moved in Over 1 Yr"},"content":{"rendered":"
Quick take:<\/strong><\/p>\n Bitcoin investors are true hodlers as illustrated by the percentage of BTC that has not moved in over a year. According to data from Glassnode<\/a>, a total of 61% of the Bitcoin<\/a> supply has not moved in this time period. This number drops slightly to 44% with respect to the percentage of Bitcoin that has not moved in over two years. Additionally, 28% of the Bitcoin supply has not moved in over 3 years. This information is summarized in the chart below by the team at Glassnode.<\/p>\n <\/a><\/p>\n Also to note, is that the last time this figure was at 61% was in January 2016. This value would drop to 40% in April of 2018. Also, the drop in the number of hodlers would begin immediately after Bitcoin’s all-time high value in December 2017.<\/p>\n Assuming that history repeats itself, the current high percentage of Bitcoin holders could indicate renewed confidence<\/a> in the future of BTC as a store of value. Furthermore, it could also be an indicator of a new bull season as predicted by Willy Woo in a previous analysis<\/a>. Therefore, and using the 2016 – 2017 bull cycle, Bitcoin could be gearing up for a good two years or more of gains in the markets.<\/p>\n\n
61% of Inactive Bitcoin Could be a Sign of Confidence in BTC as a Store of Value<\/h2>\n
Bitcoin Could Be in a Consolidation Phase Despite Bearish Indicators<\/h2>\n