A large number of Bitcoins (BTC) are currently stored in the same portfolio without having been moved since 2018. This shows that a large number of investors are waiting for the price of the most popular digital asset to enter a new bull market. It's according to the data provided by BitInfoCharts.
Half of the supply of bitcoins remains dormant
Bitcoin recently rose from $ 4,200 to $ 8,400, the highest price Bitcoin has in over eight months. The end of the bear market that has affected Bitcoin and the entire cryptographic space in 2018 is now attracting investors and allowing them to raise funds for the next market hike.
BitInfoChart shows that 10.5 million BTC, or half of the Bitcoin offer, have not left their portfolio since May 5, 2018. That's twice as much as the amount of BTC stored from January 5 2017, before the rise reaches 20 000 USD.
As time passes and we enter a new phase of accumulation, the number of BTCs without being moved continues to grow over time. We have also recently written on UseTheBitcoin, there are 732,000 Bitcoin addresses containing at least one bitcoin. Surprisingly, there are only 4 addresses with over 100,000 BTCs.
A few days ago, Whale Alerts, a Twitter bot that is recording important transactions on different networks, announced that an investor had transferred 10,500 BTCs between portfolios as part of three separate transactions moving funds from 83 , $ 4 million. Today, this user has transferred more than 16,000 BTC worth about $ 127 million.
In recent months, Bitcoins enthusiasts and investors have placed their funds in the cryptography market. The feeling has changed and Bitcoin could eventually reach new heights in the future. Indeed, digital currency has reached its highest level in more than eight months.
Arthur Hayes, the CEO of the BitMEX cryptographic platform, also shared his enthusiasm for Bitcoin. He said the network had dropped below $ 7,000 for a short time, but that it had immediately been reduced to $ 8,000.
At the time of writing, Bitcoin is trading at around $ 7,850 and its market capitalization is $ 140 billion, according to CoinMarektCap. Experts believe that Bitcoin is now taking a break to start growing again in the near future.
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