Bitcoin Investors Are Reportedly Hoarding BTC Worth Of $84 Billion
Bitcoin is trading in the green today, and the most important crypto in the industry is struggling to recover after the November price falls.
It’s been revealed that 11,580,000 BTC worth about $84 billion has not moved in more than a year.
65% of all BTC mined has not been moved in a year
This number reportedly represents about 65% of all Bitcoin that has been mined to date.
This huge figure that’s reported by BitInfoCharts is really interesting, especially considering the price volatility that we have witnessed in 2019.
The Daily Hodl notes that “Bitcoin skyrocketed in value from about $4,000 at the beginning of December 2018 to nearly $13,800 on June 26th – a 245% increase over seven months.”
After that, the most important digital asset in the crypto space fell by more than 50% over the next five months. It dropped to $6,617 by November 25th.
At the moment of writing this article, BTC is trading in the green.
We recommend that you check out the complete report.
Most BTC holders are always having a feeling of a bull market
The online publication mentioned above noted that traders who acquired Bitcoin at below $8,000 are long-term investors, according to notes coming from the report.
“Approximately 11.46 million Bitcoin belong to this cohort. Despite the extreme market movement, these holders have remained resolute in their market views — only 150,000 of the 11.46 million Bitcoin were seen to have moved on-chain,” says the report.
It's been also revealed that “profit-taking or panic selling” was limited among these holders.
It was explained in the same report that such behavior shows that for most of Bitcoin holders, Bitcoin being in a bull market is a view that seems to remain unchanged, despite the realities and the huge volatility of the crypto market.
As we reported earlier today, there are still a lot of optimistic BTC-related predictions that keep popping up in the crypto space.
More than that, it's expected that BTC will skyrocket following the halving process that is set to take place in May 2020.
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