Topic: 10M Bitcoins Haven’t Moved in More Than a Year, Highest Since 2017 (Read 867 times)
January 24, 2020, 02:44:42 AM
Many people bought Bitcoin when it was trading in the range of 14-20 thousand dollars. Then, when the price dropped below 10 thousand dollars, and a little later reached the price bottom of last year at the level of 3 thousand dollars, then people simply did not make any sense to sell an asset that fell in price several times. Now many people are just waiting for an increase in the value of Bitcoin to at least sell it with the least losses.
January 23, 2020, 10:25:40 PM
Much more scarier is the fact that this too high of an amount didn't circulate in the market which is bad for a currency in the rise like bitcoin. Hopefully things change for the better on this coming halving because if it doesn't end well bitcoin might collapse, which will pretty much mean certain death for the cryptocurrency world.
I think this is proof that bitcoin is no longer a means of payment, or a currency. It's a digital asset.
If there is to be a currency, it will likely be an alt that is inflationary that people are happy to spend (like doge or steem).
January 23, 2020, 10:04:18 PM
https://www.coindesk.com/10m-bitcoins-havent-moved-in-more-than-a-year-highest-since-2017
I think the rise from around $3,300 to $7,500 in 2019 was definitely people accumulating in anticipation of the halving.
Watch for rapid sales though as bitcoin reaches it's price targets.
I agree with you maybe in 2019 yesterday many people chose to keep holding bitcoin. they choose to keep waiting and hope big on bitcoin halving day. or those who hold bitcoin are those who buy bitcoin at high prices. they don't want to suffer a loss and finally decide to keep holding bitcoin. Quote
About 10.7 million bitcoins haven’t moved in more than 12 months, according to Digital Assets Data, a fintech company building crypto data feeds.
Considering the total number of bitcoins in circulation is 18.14 million, this also means nearly 60 percent of the coins remained dormant and only 40 percent participated in the price action seen in 2019. The percentage of bitcoins lying dormant for over a year is at its highest level since early 2017.
“The sheer size of unmoved bitcoin is definitely a sign of the developing community of HODLers,” Kadan Stadelmann, chief technology officer at Komodo Platform, told CoinDesk.
The top cryptocurrency witnessed substantial swings last year, rising from $3,693 to $13,879 in the first six months only to fall back to $7,179 by mid-December. Thus, bitcoin just about doubled last year despite the brutal sell-off in the second half.
Even so, a large number of bitcoins remained inactive, possibly because investors are expecting a significant price rise following the mining reward halving, due in May. The process, repeated every four years, reduces block rewards by half in order to keep inflation under check.
However, if the market doesn’t live up to lofty expectations, some selling could be seen, Stadelmann said. In that case, the sum of bitcoins lying dormant would drop.
Considering the total number of bitcoins in circulation is 18.14 million, this also means nearly 60 percent of the coins remained dormant and only 40 percent participated in the price action seen in 2019. The percentage of bitcoins lying dormant for over a year is at its highest level since early 2017.
“The sheer size of unmoved bitcoin is definitely a sign of the developing community of HODLers,” Kadan Stadelmann, chief technology officer at Komodo Platform, told CoinDesk.
The top cryptocurrency witnessed substantial swings last year, rising from $3,693 to $13,879 in the first six months only to fall back to $7,179 by mid-December. Thus, bitcoin just about doubled last year despite the brutal sell-off in the second half.
Even so, a large number of bitcoins remained inactive, possibly because investors are expecting a significant price rise following the mining reward halving, due in May. The process, repeated every four years, reduces block rewards by half in order to keep inflation under check.
However, if the market doesn’t live up to lofty expectations, some selling could be seen, Stadelmann said. In that case, the sum of bitcoins lying dormant would drop.
I think the rise from around $3,300 to $7,500 in 2019 was definitely people accumulating in anticipation of the halving.
Watch for rapid sales though as bitcoin reaches it's price targets.
January 23, 2020, 08:55:14 AM
They are certified hodlers, not into rush and they know when to unload. It means that there are plenty of Bitcoin’s when FOMO’s rush into market. There’s always buyers when those 10 million are unloaded.
They might be or maybe the owner of that is already dead, which I hope not, I mean that is just a speculation. As far as I know, these HODLers like to move their huge amount of bitcoin from wallet to wallet, and they don't usually put all of it in one wallet, they cut it into pieces and manage with different wallets. that is 10 million bitcoins, almost half of the total supply.
January 23, 2020, 03:38:06 AM
Sounds about right. The goal is to not "lose" them all at once anyway. I'd probably prefer a steeper rise to compensate for the spread but that do sound like a good plan.
Yes we can make step back but we must keep out eyes in market so that in case of mistake we can remain careful. Market keep moving and we should be wise enough to get chance to have some money from it. So buy at lowest price and keep waiting for it. Spreading your money in coins to different percentages is also good planning though.I understand the buy low sell high adage and I'm trying to watch movement carefully, especially since this is pretty much the only btc I have left. I no longer spread them out into different coins though, I've pretty much lost interest trading alts long time ago. I found it too much of a hassle and decided to just watch the btc/fiat pairing which is what matters the most to me.
January 23, 2020, 12:48:37 AM
I think most people are thinking that bitcoin will soon grow to $ 100k in the future, so they plan to hold it for a long time. On the other hand, these may be the wallets of the whales, which will soon be unlocked when bitcoin's price reaches a certain threshold in the future. So we can keep track of these wallets, and when it's volatile, it's time to sell Bitcoin. because with 10m of bitcoins it can bring down the market at any time.
January 22, 2020, 07:36:30 PM
They are certified hodlers, not into rush and they know when to unload. It means that there are plenty of Bitcoin’s when FOMO’s rush into market. There’s always buyers when those 10 million are unloaded.
They might be or maybe the owner of that is already dead, which I hope not, I mean that is just a speculation. As far as I know, these HODLers like to move their huge amount of bitcoin from wallet to wallet, and they don't usually put all of it in one wallet, they cut it into pieces and manage with different wallets. that is 10 million bitcoins, almost half of the total supply.
January 22, 2020, 07:31:16 PM
They are certified hodlers, not into rush and they know when to unload. It means that there are plenty of Bitcoin’s when FOMO’s rush into market. There’s always buyers when those 10 million are unloaded.
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January 22, 2020, 06:40:37 PM
I read somewhere about a plan, which I personally liked very much, but hadn't a chance to try it yet. During a bull run, when the price rises around 20% per week, sell 5% of what you have, once a week, but only when the price is 20% higher than it was during a previous sell. Thus you won't miss a bull run, and you won't sell everything in the wrong time. And, of course, don't forget to buy back during a steep decline.
Sounds about right. The goal is to not "lose" them all at once anyway. I'd probably prefer a steeper rise to compensate for the spread but that do sound like a good plan.
January 22, 2020, 01:16:40 PM
Probably those people realized it bottomed out then find out in charts that it had an 80% correction they started accumulating while the price, is pretty cheap and wait for the next halving cycle or bullrun. For me, i've recently started buying back cause i dont have much to invest in anyways but its probably to late, now that the price is starting to look good.
During this time of the year it is never too late to accumulate and buy more btc because cryptocurrency is not its peak yet. Like what you said what those people did wait for the perfect time to sell on a good price and the situation is perfect while everyone is waiting for the halving effect.
January 22, 2020, 10:05:24 AM
~
That's the uncertain part of it. I believe the more advanced traders out there have tools for prediction, I don't so there's the risk of missing out. I still think that's better than nothing and I prefer this over trading alts. Me I'd just watch whatever the price would be on the halving then maybe wait to see if it'll rise higher than 25% of that and then sell and wait for the next cycle.
I read somewhere about a plan, which I personally liked very much, but hadn't a chance to try it yet. During a bull run, when the price rises around 20% per week, sell 5% of what you have, once a week, but only when the price is 20% higher than it was during a previous sell. Thus you won't miss a bull run, and you won't sell everything in the wrong time. And, of course, don't forget to buy back during a steep decline.
Sounds about right. The goal is to not "lose" them all at once anyway. I'd probably prefer a steeper rise to compensate for the spread but that do sound like a good plan.
January 21, 2020, 03:26:14 AM
~
That's the uncertain part of it. I believe the more advanced traders out there have tools for prediction, I don't so there's the risk of missing out. I still think that's better than nothing and I prefer this over trading alts. Me I'd just watch whatever the price would be on the halving then maybe wait to see if it'll rise higher than 25% of that and then sell and wait for the next cycle.
I read somewhere about a plan, which I personally liked very much, but hadn't a chance to try it yet. During a bull run, when the price rises around 20% per week, sell 5% of what you have, once a week, but only when the price is 20% higher than it was during a previous sell. Thus you won't miss a bull run, and you won't sell everything in the wrong time. And, of course, don't forget to buy back during a steep decline.
Sounds about right. The goal is to not "lose" them all at once anyway. I'd probably prefer a steeper rise to compensate for the spread but that do sound like a good plan.
January 20, 2020, 08:40:22 AM
Over the year two schools of thoughts have been developed in regards to Bitcoin. One school of thoughts emphasis on the idea of increasing the utility of Bitcoins while the other stress on the idea of increasing the price of Bitcoin. As a result, Bitcoin have been caught somewhere in-between of these two poles. That is the main reason why we see circular moves in the prices of Bitcoin (hyperbola). When utility increases demand increases, this results in the increase in price, this results in volatility making bitcoin unfit for utility, which decreases demand, resulting in price decrease. The circle continues revolving.
This is a true statement, there are conflicting interest and ideology, the fact is for something that has to have valuation you need to have the utility, if the entire market is about speculation about the price and no utility then it will have the same affect as the Tulip Mania and that is not what we want. I am expecting more merchant adoption and utility in bitcoin in the next 10 years. January 20, 2020, 07:52:46 AM
Probably those people realized it bottomed out then find out in charts that it had an 80% correction they started accumulating while the price, is pretty cheap and wait for the next halving cycle or bullrun. For me, i've recently started buying back cause i dont have much to invest in anyways but its probably to late, now that the price is starting to look good.
During this time of the year it is never too late to accumulate and buy more btc because cryptocurrency is not its peak yet. Like what you said what those people did wait for the perfect time to sell on a good price and the situation is perfect while everyone is waiting for the halving effect.
January 20, 2020, 07:45:58 AM
A lot of HODlers here. It may make great dump if they will want to finally sell
yes it will .imagine 10 million bitcoins , not just that but the number is growing when combined with other institutions or just the regular individuals that also hodl bitcoin . it was like a dump that never seen before . it was bad to me if that happens but good to some because they can buy btc 's . what makes me stronger is that i know the possibility for that to happen is only slim because people will always expect for more price hike , the higher the bitcoin price reach
There are still a lot of people who believe in the ability of bitcoin in terms of economic growth or it is very profitable. Although, it is not that reliable nowadays because of its price, but the holders are still hoping for the bitcoin to give them what they need and want. Many bitcoin are wasted and were not moving because of the holders that have so much expectation and hope in bitcoin. But in this time they chose to suffer from waiting and the only thing they have is patience.
Is that still true? I don't think there are many people who believe in "going to the moon" any longer. They believe that bitcoin MIGHT go to £20,000, and there may be a lot of selling at that point. The last time that happened, the wave of selling pushed bitcoin down to $3,500.
Being bullish or optimistic is common but going to unrealistic levels isnt a good thing to be done. 10M coins which havent moving
does signify that there are lots of hodlers and if these people tend to sell then it will surely affect the market bigtime but
now it isnt the right time for that.
January 20, 2020, 07:30:41 AM
A lot of HODlers here. It may make great dump if they will want to finally sell
yes it will .imagine 10 million bitcoins , not just that but the number is growing when combined with other institutions or just the regular individuals that also hodl bitcoin . it was like a dump that never seen before . it was bad to me if that happens but good to some because they can buy btc 's . what makes me stronger is that i know the possibility for that to happen is only slim because people will always expect for more price hike , the higher the bitcoin price reach
There are still a lot of people who believe in the ability of bitcoin in terms of economic growth or it is very profitable. Although, it is not that reliable nowadays because of its price, but the holders are still hoping for the bitcoin to give them what they need and want. Many bitcoin are wasted and were not moving because of the holders that have so much expectation and hope in bitcoin. But in this time they chose to suffer from waiting and the only thing they have is patience.
Is that still true? I don't think there are many people who believe in "going to the moon" any longer. They believe that bitcoin MIGHT go to £20,000, and there may be a lot of selling at that point. The last time that happened, the wave of selling pushed bitcoin down to $3,500.
January 20, 2020, 07:01:44 AM
A lot of HODlers here. It may make great dump if they will want to finally sell
yes it will .imagine 10 million bitcoins , not just that but the number is growing when combined with other institutions or just the regular individuals that also hodl bitcoin . it was like a dump that never seen before . it was bad to me if that happens but good to some because they can buy btc 's . what makes me stronger is that i know the possibility for that to happen is only slim because people will always expect for more price hike , the higher the bitcoin price reach
There are still a lot of people who believe in the ability of bitcoin in terms of economic growth or it is very profitable. Although, it is not that reliable nowadays because of its price, but the holders are still hoping for the bitcoin to give them what they need and want. Many bitcoin are wasted and were not moving because of the holders that have so much expectation and hope in bitcoin. But in this time they chose to suffer from waiting and the only thing they have is patience.
January 20, 2020, 04:58:32 AM
In fact, this is the most interesting and most promising. The owners of such volumes could drop or raise the price several times, while earning a lot of money on this.
But they do not. Why? Or they are not interested, but then why do they need bitcoin? Or they know something that most do not know.
Out of these 10M, it is estimated that at least 4M are lost for good (especially old ones) - as owners lost passwords or old HDD with wallets got broken. Not to mention those belonging to Satoshi himself or some people who may be deceased/imprisoned.But they do not. Why? Or they are not interested, but then why do they need bitcoin? Or they know something that most do not know.
Next, many BTCs are stored on hardware/cold wallets belonging to biggest exchanges (and because of low trading volume in general, these had not been moved). Next, we still have a group of people who do not make any BTC transactions because they consider it as a form of the pension scheme.
Nevertheless, there are not so many BTC wallets with a huge amount of BTC, enough to actually cause pump and dump.
January 19, 2020, 03:58:27 PM
In fact, this is the most interesting and most promising. The owners of such volumes could drop or raise the price several times, while earning a lot of money on this.
But they do not. Why? Or they are not interested, but then why do they need bitcoin? Or they know something that most do not know.
But they do not. Why? Or they are not interested, but then why do they need bitcoin? Or they know something that most do not know.
January 19, 2020, 06:38:54 AM
Probably those people realized it bottomed out then find out in charts that it had an 80% correction they started accumulating while the price, is pretty cheap and wait for the next halving cycle or bullrun. For me, i've recently started buying back cause i dont have much to invest in anyways but its probably to late, now that the price is starting to look good.
January 19, 2020, 06:33:40 AM
Well there is a reason's why it is not moving, either it is own by long term investors, businessman, trader groups, manipulators and whales or hack wallets that own by many users. this 10M bitcoin is maybe our savior to not totally the price drop down to 90%, if this 10M btc will dump I think the market won't recover immediately and the users who lost half of their funds too.
Usually this kind of wallets moves in time.
If that is owned by one identity, well, a whale, that will usually move into new wallet since there are a lot of whales doing that. If that is untouched for a long time, then that might mean that thebowner of it is holding it or maybe someone that just not active in the community, or maybe someone like Satoshi, or an owner of an exchange
January 19, 2020, 06:30:45 AM
Its probably because many have lost there keys while others don't have a place to spend and are accumulating them as an asset of investment. There will be total supply of 21 million and if this figure 10M bitcoin is true then this means many are hodling bitcoins for day to come. Though I doubt these stats.
It wont really be that precise on having that 10M coins havent moved out yet we should consider those which are lost or floating to void
but if large part of the entire number is still accessible then it wont be a surprise if there would be a crash on price i majority of those holder
would tend to secure profits on a specific time.As said this might happen before the halving event commence.
January 19, 2020, 05:54:59 AM
~
That's the uncertain part of it. I believe the more advanced traders out there have tools for prediction, I don't so there's the risk of missing out. I still think that's better than nothing and I prefer this over trading alts. Me I'd just watch whatever the price would be on the halving then maybe wait to see if it'll rise higher than 25% of that and then sell and wait for the next cycle.
I read somewhere about a plan, which I personally liked very much, but hadn't a chance to try it yet. During a bull run, when the price rises around 20% per week, sell 5% of what you have, once a week, but only when the price is 20% higher than it was during a previous sell. Thus you won't miss a bull run, and you won't sell everything in the wrong time. And, of course, don't forget to buy back during a steep decline.
January 19, 2020, 01:50:08 AM
Use the money earned from the ath to snag em up btc for cheap. For people like me with not even a full btc, it's events like this I'm waiting for.
That's a great plan, but honestly speaking, how many people manage to sell the all time high? I'm quite sure that very few even buy it.
The highest price I managed to sell coins during the 2017 bull run was ~$16,000 and then just kept holding just in case the price pumps way higher. I'm a holder and it's quite hard for me to part with my coins, so imagine how easy non-holders sell their coins whenever they see the price increase by 50-100%. They unload their bags faaaaar before the bull market is even at 50% of its actual potential.
Then there is the question what is the bottom to buy into? I saw people be so confident in $6000 in 2018 that they believed that it was the ultimate bottom. That ultimate bottom turned out to be 50% below that.
That's the uncertain part of it. I believe the more advanced traders out there have tools for prediction, I don't so there's the risk of missing out. I still think that's better than nothing and I prefer this over trading alts. Me I'd just watch whatever the price would be on the halving then maybe wait to see if it'll rise higher than 25% of that and then sell and wait for the next cycle.
January 18, 2020, 10:44:32 AM
I think most of it is exchanges, don't you think? I mean there has always been millions that didn't moved at all, and with time that millions grows bigger and bigger. First of all there is the big satoshi one that Craig claims he has, thats 1 million untouched somewhere, than there was ton of for long term holders, than there is exchanges that keep millions (combined) and there are ones that people forgot about as well. When you combine these facts, I am %99 sure that the number of bitcoins that doesn't move will eventually grow higher and higher, there could be times when a big chunk moves but that doesn't change the fact that in long term it will grow bigger.
January 18, 2020, 10:04:35 AM
Well there is a reason's why it is not moving, either it is own by long term investors, businessman, trader groups, manipulators and whales or hack wallets that own by many users. this 10M bitcoin is maybe our savior to not totally the price drop down to 90%, if this 10M btc will dump I think the market won't recover immediately and the users who lost half of their funds too.
January 18, 2020, 10:00:54 AM
Is this a good or bad news for Bitcoin users, I am confused. 
Over the year two schools of thoughts have been developed in regards to Bitcoin. One school of thoughts emphasis on the idea of increasing the utility of Bitcoins while the other stress on the idea of increasing the price of Bitcoin. As a result, Bitcoin have been caught somewhere in-between of these two poles. That is the main reason why we see circular moves in the prices of Bitcoin (hyperbola). When utility increases demand increases, this results in the increase in price, this results in volatility making bitcoin unfit for utility, which decreases demand, resulting in price decrease. The circle continues revolving.
Over the year two schools of thoughts have been developed in regards to Bitcoin. One school of thoughts emphasis on the idea of increasing the utility of Bitcoins while the other stress on the idea of increasing the price of Bitcoin. As a result, Bitcoin have been caught somewhere in-between of these two poles. That is the main reason why we see circular moves in the prices of Bitcoin (hyperbola). When utility increases demand increases, this results in the increase in price, this results in volatility making bitcoin unfit for utility, which decreases demand, resulting in price decrease. The circle continues revolving.
January 18, 2020, 09:03:01 AM
I think those bitcoins are all manipulative organizations. because they know what their bitcoins hold and they can manipulate the market for just a few million bitcoins. That's why they still hold on until its price is sky-high. An example of the majority of bitcoins in the hands of the sharks is the CWS, who holds more than 1.1 million bitcoins and that is just a shark. And for organizations, you already know what their wealth level is like. so should be careful with the purse, if it can work again, it certainly will be a round of big manipulation.
January 18, 2020, 06:17:28 AM
Use the money earned from the ath to snag em up btc for cheap. For people like me with not even a full btc, it's events like this I'm waiting for.
That's a great plan, but honestly speaking, how many people manage to sell the all time high? I'm quite sure that very few even buy it.
The highest price I managed to sell coins during the 2017 bull run was ~$16,000 and then just kept holding just in case the price pumps way higher. I'm a holder and it's quite hard for me to part with my coins, so imagine how easy non-holders sell their coins whenever they see the price increase by 50-100%. They unload their bags faaaaar before the bull market is even at 50% of its actual potential.
Then there is the question what is the bottom to buy into? I saw people be so confident in $6000 in 2018 that they believed that it was the ultimate bottom. That ultimate bottom turned out to be 50% below that.
January 18, 2020, 05:32:49 AM
I think the rise from around $3,300 to $7,500 in 2019 was definitely people accumulating in anticipation of the halving.
Watch for rapid sales though as bitcoin reaches it's price targets.
Watch for rapid sales though as bitcoin reaches it's price targets.
Well that's probably one of the main reason. I myself am refraining from touching my savings. We are seeing the price steadily rising, not just sure when it will break out of $9k but hoping that would not trigger a minidump. That it's that large could also indicate that a large portion of it is now in the hands of institutions.
A lot of HODlers here. It may make great dump if they will want to finally sell
True, but most holders are looking for the next Bullrun IMHO. After that, a big dump scenario will happen which is scary where bitcoin will again lose a big percentage of its value just what happened from the previous bull run. 10M BTC is almost half of the total bitcoin supply and a huge fallback once it moves. Also, I am hoping it is not owned by a few people or whales.
The bigger the dump the better. Use the money earned from the ath to snag em up btc for cheap. For people like me with not even a full btc, it's events like this I'm waiting for.
January 17, 2020, 12:18:55 PM
A lot of HODlers here. It may make great dump if they will want to finally sell
They hold or a lot of bitcoiners do hold their token since the price was dump. They didn't want to lose their profit if they can wait because a lot of investor in bitcoin does not easily give up because they are already have a plan and some of them was the whales who are took longer from knowing crypto.
True, but most holders are looking for the next Bullrun IMHO. After that, a big dump scenario will happen which is scary where bitcoin will again lose a big percentage of its value just what happened from the previous bull run. 10M BTC is almost half of the total bitcoin supply and a huge fallback once it moves. Also, I am hoping it is not owned by a few people or whales.
January 17, 2020, 09:04:46 AM
It just kinda feel weird how people monitor others Bitcoin, especially for those who store their Bitcoin or locked it up for certain reasons. It makes it feel like Bitcoin is not secured anymore as someone somewhere is monitoring coins that are been locked away and suddenly sold.
I know its all about accountability but maybe we shouldn't be pointing the rise or dump of Bitcoin price on people who suddenly sell their Bitcoin after the long hold.
I know its all about accountability but maybe we shouldn't be pointing the rise or dump of Bitcoin price on people who suddenly sell their Bitcoin after the long hold.
It's one of the inherent attributes of the public blockchain. Everyone can see the movement of bitcoin or the non movement, not just a centralized entity. Any and all trends will always be used to account for price rises and prices falls, that's why people use technical analysis and that is just another data point. It may be valid it may not that is up to the individual using the data. Like it or hate it, that wont change
January 17, 2020, 08:46:42 AM
A lot of HODlers here. It may make great dump if they will want to finally sell
True, but most holders are looking for the next Bullrun IMHO. After that, a big dump scenario will happen which is scary where bitcoin will again lose a big percentage of its value just what happened from the previous bull run. 10M BTC is almost half of the total bitcoin supply and a huge fallback once it moves. Also, I am hoping it is not owned by a few people or whales.
January 17, 2020, 07:36:01 AM
A lot of HODlers here. It may make great dump if they will want to finally sell
yes it will .imagine 10 million bitcoins , not just that but the number is growing when combined with other institutions or just the regular individuals that also hodl bitcoin . it was like a dump that never seen before . it was bad to me if that happens but good to some because they can buy btc 's . what makes me stronger is that i know the possibility for that to happen is only slim because people will always expect for more price hike , the higher the bitcoin price reach
January 17, 2020, 05:53:30 AM
A lot of HODlers here. It may make great dump if they will want to finally sell
January 17, 2020, 05:49:32 AM
by looking at this data I can conclude that most bitcoin holders believe that bitcoin can reach ATH $ 20k. so they continue to hold bitcoin until bitcoin reaches a new ATH. and last year the highest price of bitcoin was only $ 13k. that's why I think most bitcoin holders only hold their bitcoins. and maybe a total of 10 million bitcoins including the bitcoins that are in exchange and the lost bitcoins.
January 16, 2020, 08:23:00 PM
well , let's count
18.14 - 10.7 - 3.8 ( total bitcoin lost,according to many article i read) = 3.64 million btc active on market. i am quite sure 10.7 includes total amount of btc on cold storage some exchange such as coinbase,binance,etc.
somehow i just think about we rise doubled in 2019 is not because halving. according to historical data of btc price,There were no significant price changes in the several months before halving,the price is tend to stable.
18.14 - 10.7 - 3.8 ( total bitcoin lost,according to many article i read) = 3.64 million btc active on market. i am quite sure 10.7 includes total amount of btc on cold storage some exchange such as coinbase,binance,etc.
I think the rise from around $3,300 to $7,500 in 2019 was definitely people accumulating in anticipation of the halving.
somehow i just think about we rise doubled in 2019 is not because halving. according to historical data of btc price,There were no significant price changes in the several months before halving,the price is tend to stable.
January 16, 2020, 05:15:51 PM
I think they are rather thinking of adding it than to sell. Now that halving is nearing it's time, maybe more Bitcoin would add up to their own existing wallets. And what comes after that? Maybe another record would be seen but this time it is about selling and moved Bitcoins from one tot another, just my thoughts though.
January 16, 2020, 05:06:27 PM
Again, this just demonstrates how the effective supply of BTC will drop in bearish circumstances due to the fact that more rational investors with a higher stake in the market realize what is happening - that the markets are acting irrationally and an adjustment upwards or a recovery is imminent as a matter of time.
But yeah, this is definitely not surprising to most people.
There is simply no incentive for long term investors to sell at the depths of bear markets. And I assume that the majority of these 10M coins are held by long term holders and/or lost.
But yeah, this is definitely not surprising to most people.
There is simply no incentive for long term investors to sell at the depths of bear markets. And I assume that the majority of these 10M coins are held by long term holders and/or lost.
January 16, 2020, 04:59:28 PM
It just kinda feel weird how people monitor others Bitcoin, especially for those who store their Bitcoin or locked it up for certain reasons. It makes it feel like Bitcoin is not secured anymore as someone somewhere is monitoring coins that are been locked away and suddenly sold.
I know its all about accountability but maybe we shouldn't be pointing the rise or dump of Bitcoin price on people who suddenly sell their Bitcoin after the long hold.
I know its all about accountability but maybe we shouldn't be pointing the rise or dump of Bitcoin price on people who suddenly sell their Bitcoin after the long hold.
January 16, 2020, 04:42:24 PM
https://www.coindesk.com/10m-bitcoins-havent-moved-in-more-than-a-year-highest-since-2017
I think the rise from around $3,300 to $7,500 in 2019 was definitely people accumulating in anticipation of the halving.
Watch for rapid sales though as bitcoin reaches it's price targets.
Quote
About 10.7 million bitcoins haven’t moved in more than 12 months, according to Digital Assets Data, a fintech company building crypto data feeds.
Considering the total number of bitcoins in circulation is 18.14 million, this also means nearly 60 percent of the coins remained dormant and only 40 percent participated in the price action seen in 2019. The percentage of bitcoins lying dormant for over a year is at its highest level since early 2017.
“The sheer size of unmoved bitcoin is definitely a sign of the developing community of HODLers,” Kadan Stadelmann, chief technology officer at Komodo Platform, told CoinDesk.
The top cryptocurrency witnessed substantial swings last year, rising from $3,693 to $13,879 in the first six months only to fall back to $7,179 by mid-December. Thus, bitcoin just about doubled last year despite the brutal sell-off in the second half.
Even so, a large number of bitcoins remained inactive, possibly because investors are expecting a significant price rise following the mining reward halving, due in May. The process, repeated every four years, reduces block rewards by half in order to keep inflation under check.
However, if the market doesn’t live up to lofty expectations, some selling could be seen, Stadelmann said. In that case, the sum of bitcoins lying dormant would drop.
Considering the total number of bitcoins in circulation is 18.14 million, this also means nearly 60 percent of the coins remained dormant and only 40 percent participated in the price action seen in 2019. The percentage of bitcoins lying dormant for over a year is at its highest level since early 2017.
“The sheer size of unmoved bitcoin is definitely a sign of the developing community of HODLers,” Kadan Stadelmann, chief technology officer at Komodo Platform, told CoinDesk.
The top cryptocurrency witnessed substantial swings last year, rising from $3,693 to $13,879 in the first six months only to fall back to $7,179 by mid-December. Thus, bitcoin just about doubled last year despite the brutal sell-off in the second half.
Even so, a large number of bitcoins remained inactive, possibly because investors are expecting a significant price rise following the mining reward halving, due in May. The process, repeated every four years, reduces block rewards by half in order to keep inflation under check.
However, if the market doesn’t live up to lofty expectations, some selling could be seen, Stadelmann said. In that case, the sum of bitcoins lying dormant would drop.
I think the rise from around $3,300 to $7,500 in 2019 was definitely people accumulating in anticipation of the halving.
Watch for rapid sales though as bitcoin reaches it's price targets.
I agree with you. There will be massive profit taking up into $20k once we get through that resistance who knows where this thing blows to. Will be awhile to get through 20k without massive influx of brand new money. People took hard losses in 2018, people will remember that crash
January 15, 2020, 05:51:43 PM
IF everyone is a holder then I see that as mutually assured destruction, BTC is for using and thats what gives it worth. Monetary velocity to some extent expands the valuation possible for pricing BTC as the exchange raises worth within a digital economy, just holding is very plain and frozen in comparison. Its the diversity of usage that creates value really. I think its not quite as alarming as it could be we have entered a stage of BTC being an easily hedged asset and that occurs off chain, so we have a depth and add layers to the market and thats a positive.
Quote
Some may choose to change sectors and invest in other commodities than crypto.
Portfolio balancing is essential for normal investment vs risk. Especially over a larger time period such as BTC has been around, people do need to trim back their risk as they get a bit older and start to hold assets related to their costs such as housing. January 15, 2020, 11:51:12 AM
https://www.coindesk.com/10m-bitcoins-havent-moved-in-more-than-a-year-highest-since-2017
I think the rise from around $3,300 to $7,500 in 2019 was definitely people accumulating in anticipation of the halving.
Watch for rapid sales though as bitcoin reaches it's price targets.
Pretty true it happens almost everytime. Basically Market in built and destroyed based on this same thesis. When the crash from 19k started people who were actually intelligent enough sold pretty much in 17k-18k. 19k was more like a peak of the mountain which nobody actually expected but occurred because certain folks thought that BTC is imminent and it would soon reach $100K now a similar thing would happen. People who have brought BTC at 4-5k once again will sell at a pretty good level and buy again if they find themselves wrong. But similarly there would be some people who would buy at peaks anticipating further price rises. These will be the biggest losers. Quote
About 10.7 million bitcoins haven’t moved in more than 12 months, according to Digital Assets Data, a fintech company building crypto data feeds.
Considering the total number of bitcoins in circulation is 18.14 million, this also means nearly 60 percent of the coins remained dormant and only 40 percent participated in the price action seen in 2019. The percentage of bitcoins lying dormant for over a year is at its highest level since early 2017.
“The sheer size of unmoved bitcoin is definitely a sign of the developing community of HODLers,” Kadan Stadelmann, chief technology officer at Komodo Platform, told CoinDesk.
The top cryptocurrency witnessed substantial swings last year, rising from $3,693 to $13,879 in the first six months only to fall back to $7,179 by mid-December. Thus, bitcoin just about doubled last year despite the brutal sell-off in the second half.
Even so, a large number of bitcoins remained inactive, possibly because investors are expecting a significant price rise following the mining reward halving, due in May. The process, repeated every four years, reduces block rewards by half in order to keep inflation under check.
However, if the market doesn’t live up to lofty expectations, some selling could be seen, Stadelmann said. In that case, the sum of bitcoins lying dormant would drop.
Considering the total number of bitcoins in circulation is 18.14 million, this also means nearly 60 percent of the coins remained dormant and only 40 percent participated in the price action seen in 2019. The percentage of bitcoins lying dormant for over a year is at its highest level since early 2017.
“The sheer size of unmoved bitcoin is definitely a sign of the developing community of HODLers,” Kadan Stadelmann, chief technology officer at Komodo Platform, told CoinDesk.
The top cryptocurrency witnessed substantial swings last year, rising from $3,693 to $13,879 in the first six months only to fall back to $7,179 by mid-December. Thus, bitcoin just about doubled last year despite the brutal sell-off in the second half.
Even so, a large number of bitcoins remained inactive, possibly because investors are expecting a significant price rise following the mining reward halving, due in May. The process, repeated every four years, reduces block rewards by half in order to keep inflation under check.
However, if the market doesn’t live up to lofty expectations, some selling could be seen, Stadelmann said. In that case, the sum of bitcoins lying dormant would drop.
I think the rise from around $3,300 to $7,500 in 2019 was definitely people accumulating in anticipation of the halving.
Watch for rapid sales though as bitcoin reaches it's price targets.
Perhaps those coins which bought before or during the ATH, seems like people are trying to HODL and wait for the bitcoin to reach the ATH again so they can recover their losses, I believe they didn't sell those coins or did the cut loss when the price was going down, they might think that it could recover soon. I personally still holding my bitcoin, not gonna sell them wven though the ATH has reached, just holding them as a long term.
Well, eventually HODLers were the winners in December 2017
January 15, 2020, 11:47:22 AM
Perhaps those coins which bought before or during the ATH, seems like people are trying to HODL and wait for the bitcoin to reach the ATH again so they can recover their losses, I believe they didn't sell those coins or did the cut loss when the price was going down, they might think that it could recover soon. I personally still holding my bitcoin, not gonna sell them wven though the ATH has reached, just holding them as a long term.
Well, eventually HODLers were the winners in December 2017
January 15, 2020, 11:35:47 AM
Perhaps those coins which bought before or during the ATH, seems like people are trying to HODL and wait for the bitcoin to reach the ATH again so they can recover their losses, I believe they didn't sell those coins or did the cut loss when the price was going down, they might think that it could recover soon. I personally still holding my bitcoin, not gonna sell them wven though the ATH has reached, just holding them as a long term.
January 15, 2020, 11:27:38 AM
How many of these coins are lost? Somewhere I read that 3 million to 4 million BTC can't be spend, because no one have the private keys to access them. Satoshi's coins alone account for more than BTC980,000.
As for analysis made by Wall Street Journal, there are 20% lost bitcoins in total supply that's probably from 3 million to 4 million of bitcoins. Lost bitcoins are unrecoverable, thank you to those people who forgot and lost their access keys because of them we are much pretty sure that bitcoin won't kiss the ground anymore. If there are 10M unmoved bitcoins over a year, does it mean something tragic will happen in the future? I'm very doubtful on such amount of unmoved bitcoins. On top of that, we have coins that were once owned by dead people such as Gerald Cotton and Alexandru Bogdan Semenciuc, which are now lost.
I'm pretty sure these people mentioned above is thinking enough after they die, they definitely give the access to their heirs to benefit from it. Or they already sold it before they die and give it to their family nonetheless they give to some financial institution to take care of it. January 15, 2020, 11:00:38 AM
I think it is mainly because exchanges have been the richest "people" in the world for the past couple of years, "since 2017" suggests a long time but honestly there was just 2018 in between, so having 2019 as a new high is not really that surprising.
Binance for example probably has thousands of bitcoins they don't need to use in some cold storage staying there for years without touching it, same for many places like poloniex, bittrex, coinbase and many others, they are making so so much money that, they probably have multiple cold storage for safety and some of them probably are never touched because they don't really need that much money to begin with for operations (for spending on personal luxury is different). Long story short, exchanges probably have at least quarter of that 10m easily.
Binance for example probably has thousands of bitcoins they don't need to use in some cold storage staying there for years without touching it, same for many places like poloniex, bittrex, coinbase and many others, they are making so so much money that, they probably have multiple cold storage for safety and some of them probably are never touched because they don't really need that much money to begin with for operations (for spending on personal luxury is different). Long story short, exchanges probably have at least quarter of that 10m easily.
January 15, 2020, 10:25:49 AM
People are realizing the true opportunity behind bitcoin and that is what made them think that holding is the best option to maximize the potential return of this emerging market. I also hold some of my bitcoin but most of my bitcoins are in an exchange which I use to trade altcoins because I also see opportunity in trading beside from holding my bags.
January 15, 2020, 10:20:24 AM
How many of these coins are lost? Somewhere I read that 3 million to 4 million BTC can't be spend, because no one have the private keys to access them. Satoshi's coins alone account for more than BTC980,000. On top of that, we have coins that were once owned by dead people such as Gerald Cotton and Alexandru Bogdan Semenciuc, which are now lost.
January 15, 2020, 09:09:17 AM
I think it's not that surprising, I always believed that hodling is the number one use case for Bitcoin, it's still hard to find a place where you can spend it, and even when you found one, the question is why would you spend it instead of fiat? If privacy is not a concern, it's better to get rid of fiat first, since it's losing its value while Bitcoin is gaining.
Also, the future might look even more "stale" thanks to Lightning network, as coins will not be moved on chain for months or years while actually being actively transacted on the second layer.
The amount of lost coins is estimated at 1-2 millions, so it's a small part of 10 mllions that weren't moved.
Lost coins is estimated at 4 millions according to several studies / researches ... chainalysis is one of the researcher quoted by wall street journal. Also, the future might look even more "stale" thanks to Lightning network, as coins will not be moved on chain for months or years while actually being actively transacted on the second layer.
Its probably because many have lost there keys while others don't have a place to spend and are accumulating them as an asset of investment. There will be total supply of 21 million and if this figure 10M bitcoin is true then this means many are hodling bitcoins for day to come. Though I doubt these stats.
The amount of lost coins is estimated at 1-2 millions, so it's a small part of 10 mllions that weren't moved.
Plus 1 million coins owned by satoshi , make it 5 millions. It's not small part of those 10 millions anymore.
There's no such manipulation, all of these movements is petty much organic.
So, apparently, we know why 5 million(50% of the coins mentioned in the OP) haven't moved since 2017. Now, I think that a big part of the remaining ones hasn't moved either for the following reason. I think those coins were bought at whatever price, some of them below $200 and others at around $19k, by people who could afford to lose the amount invested in BTC, and they are waiting for at least $50k to cash out. In other words, they are not traders. They want neither to earn a small amount nor to diminish their losses. They want it all or nothing, and that's why they don't touch their coins until the price is "high enough"(it can be $1 million for some).
January 15, 2020, 08:26:56 AM
I think it's not that surprising, I always believed that hodling is the number one use case for Bitcoin, it's still hard to find a place where you can spend it, and even when you found one, the question is why would you spend it instead of fiat? If privacy is not a concern, it's better to get rid of fiat first, since it's losing its value while Bitcoin is gaining.
Also, the future might look even more "stale" thanks to Lightning network, as coins will not be moved on chain for months or years while actually being actively transacted on the second layer.
The amount of lost coins is estimated at 1-2 millions, so it's a small part of 10 mllions that weren't moved.
Lost coins is estimated at 4 millions according to several studies / researches ... chainalysis is one of the researcher quoted by wall street journal. Also, the future might look even more "stale" thanks to Lightning network, as coins will not be moved on chain for months or years while actually being actively transacted on the second layer.
Its probably because many have lost there keys while others don't have a place to spend and are accumulating them as an asset of investment. There will be total supply of 21 million and if this figure 10M bitcoin is true then this means many are hodling bitcoins for day to come. Though I doubt these stats.
The amount of lost coins is estimated at 1-2 millions, so it's a small part of 10 mllions that weren't moved.
Plus 1 million coins owned by satoshi , make it 5 millions. It's not small part of those 10 millions anymore.
There's no such manipulation, all of these movements is petty much organic.
January 15, 2020, 08:02:22 AM
The amount of lost coins is estimated at 1-2 millions, so it's a small part of 10 mllions that weren't moved.
Just 2? As we remember it was estimated that it as more like 4 million number.
January 15, 2020, 06:15:35 AM
I think it's not that surprising, I always believed that hodling is the number one use case for Bitcoin, it's still hard to find a place where you can spend it, and even when you found one, the question is why would you spend it instead of fiat? If privacy is not a concern, it's better to get rid of fiat first, since it's losing its value while Bitcoin is gaining.
Also, the future might look even more "stale" thanks to Lightning network, as coins will not be moved on chain for months or years while actually being actively transacted on the second layer.
The amount of lost coins is estimated at 1-2 millions, so it's a small part of 10 mllions that weren't moved.
Also, the future might look even more "stale" thanks to Lightning network, as coins will not be moved on chain for months or years while actually being actively transacted on the second layer.
Its probably because many have lost there keys while others don't have a place to spend and are accumulating them as an asset of investment. There will be total supply of 21 million and if this figure 10M bitcoin is true then this means many are hodling bitcoins for day to come. Though I doubt these stats.
The amount of lost coins is estimated at 1-2 millions, so it's a small part of 10 mllions that weren't moved.
January 15, 2020, 03:56:21 AM
Its probably because many have lost there keys while others don't have a place to spend and are accumulating them as an asset of investment. There will be total supply of 21 million and if this figure 10M bitcoin is true then this means many are hodling bitcoins for day to come. Though I doubt these stats.
it might be possible but you should know that there is no guarantee that it can happen because bitcoin price movements are difficult to predict even though supply is getting more limited and more difficult to get bitcoin but bitcoin prices may not necessarily be expensive. 
January 15, 2020, 03:42:01 AM
Its probably because many have lost there keys while others don't have a place to spend and are accumulating them as an asset of investment. There will be total supply of 21 million and if this figure 10M bitcoin is true then this means many are hodling bitcoins for day to come. Though I doubt these stats.
It wont really be that precise on having that 10M coins havent moved out yet we should consider those which are lost or floating to void
but if large part of the entire number is still accessible then it wont be a surprise if there would be a crash on price i majority of those holder
would tend to secure profits on a specific time.As said this might happen before the halving event commence.
January 15, 2020, 03:22:25 AM
Its probably because many have lost there keys while others don't have a place to spend and are accumulating them as an asset of investment. There will be total supply of 21 million and if this figure 10M bitcoin is true then this means many are hodling bitcoins for day to come. Though I doubt these stats.
January 15, 2020, 02:44:35 AM
Whales have to cash out too. Dont get me wrong, the holders are there but there are people who need to cash their coins and pay for their bills, investments and so on.
Some may choose to change sectors and invest in other commodities than crypto. This can be likely with the stagnancy with bitcoin price leaving out the last 24hour 400$ rise in bitcoin price, talking in general about the last 2years.
With the halving approaching my prediction is that people will stack up and sell on any of the pumps before the halving. Be ready for a bloodbath during those days. It can get really unpredictable.
Some may choose to change sectors and invest in other commodities than crypto. This can be likely with the stagnancy with bitcoin price leaving out the last 24hour 400$ rise in bitcoin price, talking in general about the last 2years.
With the halving approaching my prediction is that people will stack up and sell on any of the pumps before the halving. Be ready for a bloodbath during those days. It can get really unpredictable.
January 15, 2020, 02:03:14 AM
They're saying more bitcoins are not in circulation but in the personal wallet of many investors and that means these investors are aiming to profit in holding it for a very long time. 8M BTC are up for grabs for new comers who wants to buy. Seem a lot much still to expect BTC to surpass the ATH 20k.
Yeah of course they are long-term holders, not without reason millions of bitcoins are not circulating, there is certainly a strong reason about the future of bitcoin holders. Other bitcoin holders should be aware of that, rather than being carried away by FUD to sell with the flow that is not clear. The fact is the whales are still waiting for bitcoin to go beyond ATH.
January 15, 2020, 12:43:44 AM
Makes sense, actually, since the generated, circulating bitcoins would be higher today because of mining than in earlier times. Add to that the fact that most holders are anticipating in the halving, especially the whales. Though one thing to note is that this 10M unmoved btc might be distributed well, and not only held by a small group of individuals. But still, it would make a great wave when the market starts to get manipulated.
With the 10M BTC to be moved, I do think that if this will be divided first amongst people across the world and be use in more exchange not just one, we could have a better market price that will enable us to have more profits with our investment. The bitcoin halving on the other hand is a great support for us to have a strong reason why we are selling bitcoin in higher prices. Thus, we are all the way to achieve good market price over time.
January 15, 2020, 12:23:23 AM
Makes sense, actually, since the generated, circulating bitcoins would be higher today because of mining than in earlier times. Add to that the fact that most holders are anticipating in the halving, especially the whales. Though one thing to note is that this 10M unmoved btc might be distributed well, and not only held by a small group of individuals. But still, it would make a great wave when the market starts to get manipulated.
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January 14, 2020, 10:49:12 PM
Seems people really get carried away with the hype of halving though it doesn't guarantee price increase even at the slightest but people are still holding it nonetheless because why not and indirectly increase the price in the market like sort of self-fulfilling prophecy but if that's really the case there might be upcoming dump after the halving though I hope that the market when halving happen. But I think when the hodling practice becoming too common that majority of coins are stuck in the wallet it just seems unhealthy for the market.
January 14, 2020, 10:22:23 PM
There is no reason for many people to sell over the past year, even though the rises were due to the good news about accepting/creating digital payments in China that makes many people predict the good future of digital currencies.
I expect the scales to change if the price drops sharply after the next halving.
The fact that about 8 million coins did not move seems scary, which could lead to a complete collapse in prices if things do not go well after the next halving.
Lets hope for that thing not to happen.You're right on saying that theres no reason for people or hodlers to sell out their coins on sideways market and now we do see some significant rise due highly possibly because of the upcoming halving but we can already presume that there might really be a huge sell off after that event specially I expect the scales to change if the price drops sharply after the next halving.
The fact that about 8 million coins did not move seems scary, which could lead to a complete collapse in prices if things do not go well after the next halving.
when prices goes to the roof and the perfect time on securing profits or even breaking even for those people who bought on ATH and still holding upto now.
Im already expecting for it to happen yet this market is always having a bumpy ride due to lots of factors,including this one.
January 14, 2020, 07:18:26 PM
Some of those are lost Bitcoins that can never be recovered. Of course many of those are just being held as investments. I have some that I've had for over a year that is just sitting in a hardware wallet.
It is the regular cycle, smart money accumulates and waits for the halving summer. I don't believe that many coins are lost these days. Maybe only in tiny fragments by beginners who don't understand the importance of the seed.
There was lately some movement of old coins transferred to bc1 addresses, I think this will increase in the near future while the transaction fees are low. No one wants to pay premium just to have the chance to use the lightning network eventually.
January 14, 2020, 06:37:35 PM
How does this compare to previous years?
Contrast adds clarity. The lack of liquidity could be new trends such as indirect trading where a trustee holds the BTC and then various parties gain ownership via a nominee type system. That'd make some sense as Bitcoin has become more accepted as its own kind of asset class, at least by some that has been the case.
I would far rather see Bitcoin actually used not stored and used indirectly in this way. I think many believe BTC will only achieve its highest value in direct use as some replacement for FIAT. I dont know FIAT will ever release its grip but I would agree BTC has to be as usable and accessible as possible not the elites but in the hands of the smallest 'bits' to society and the economy.
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definitely people accumulating
Its a variety of reasons always, Im quite wary of where we become centered around one theme only. Obviously excessive speculation is the most obvious repeated example where quick reversal is damaging to any commodity.
January 14, 2020, 05:56:12 PM
Some of those are lost Bitcoins that can never be recovered. Of course many of those are just being held as investments. I have some that I've had for over a year that is just sitting in a hardware wallet.
January 14, 2020, 05:30:13 PM
I don't think that it's just holders, just that we need to develop, create more places that accept Bitcoin. I could buy certain stuff with Bitcoin, but Amazon is more convenient.
January 14, 2020, 05:16:54 PM
There is no reason for many people to sell over the past year, even though the rises were due to the good news about accepting/creating digital payments in China that makes many people predict the good future of digital currencies.
I expect the scales to change if the price drops sharply after the next halving.
The fact that about 8 million coins did not move seems scary, which could lead to a complete collapse in prices if things do not go well after the next halving.
Don't know what to say and hope anymore because once I think things are getting better, then opposite happens. Pretty often there is some lit that has to turn into fire but somehow it quickly fades away. The fact that more than 10 million bitcoins haven't moved means a lot, it means that almost 60% of people is strictly looking for price to rise and of course another 40% one can't be in opposition, we all need higher price for high profit, current statistics shows that we are ready for that as we were ready in past when bitcoin reach to 20K. Personally I look it like a very positive forecast and still again have hope that price will rise a lot. Today' situation is even great, we had 7% rise and price hit to 8800 USD, that' pretty good. I expect the scales to change if the price drops sharply after the next halving.
The fact that about 8 million coins did not move seems scary, which could lead to a complete collapse in prices if things do not go well after the next halving.
January 14, 2020, 05:11:27 PM
Don't worry, as soon Bitcoin hits $15k people will start to sell massively like if it is a new ATH. They certainly won't wait for Bitcoin to hit $20k again
People said that about the return to $1000 and the return to $10,000. Nothing of note happened and it carried on following the trajectory it wanted. I think that one's a dead idea.
If they're waiting for a high price the same FOMO will hit again. And they'll probably sell for far less after the high has been and gone.
January 14, 2020, 05:09:28 PM
How does this compare to previous years? Is this in any way unusual or pretty much the norm? I presume in bearish/boring times the lack of movement increases.
An organic effect.
Imagine if you're one the person who bought bitcoins when the price was at $15k, you're not crazy to sell between $3k -$8k (during 2019) unless you have an emergency IRL or you're able to handle the loss with your diversification. What options people have? Just to wait and praying something to happen with the halving to minimize the losses.
Don't worry, as soon Bitcoin hits $15k people will start to sell massively like if it is a new ATH. They certainly won't wait for Bitcoin to hit $20k again
Yeah, yeah, pretty much anything could happen whether bitcoin lives up to those expectations or not. There could be massive selling either way or there might not be. I'm not sure this inactivity is because holders are anticipating the halving or not. It could be that a lot of people decided that the best time to buy and hold bitcoin is when it's gotten slammed to the ground, which it did all throughout 2018. The halving might have nothing to do with it.
Or it could be that the mentality changed and they learned the lesson. People were buying bitcoins thinking they can become rich the next week. Jumping on any new ICO website they found on Twitter. I still see people asking how to be rich in crypto with 50 bucks
January 14, 2020, 03:16:30 PM
Quote
However, if the market doesn’t live up to lofty expectations, some selling could be seen, Stadelmann said. In that case, the sum of bitcoins lying dormant would drop.
Yeah, yeah, pretty much anything could happen whether bitcoin lives up to those expectations or not. There could be massive selling either way or there might not be. I'm not sure this inactivity is because holders are anticipating the halving or not. It could be that a lot of people decided that the best time to buy and hold bitcoin is when it's gotten slammed to the ground, which it did all throughout 2018. The halving might have nothing to do with it.
And by the way, if you're ever wondering whether people see bitcoin as a currency or an investment, look no further than this data. I would imagine that a lot of the activity between bitcoin wallets in the past year was due to trading or some other reason aside from people spending it on things.
January 14, 2020, 02:56:31 PM
They're saying more bitcoins are not in circulation but in the personal wallet of many investors and that means these investors are aiming to profit in holding it for a very long time. 8M BTC are up for grabs for new comers who wants to buy. Seem a lot much still to expect BTC to surpass the ATH 20k.
January 14, 2020, 02:30:15 PM
How does this compare to previous years? Is this in any way unusual or pretty much the norm? I presume in bearish/boring times the lack of movement increases.
January 14, 2020, 12:29:25 PM
There is no reason for many people to sell over the past year, even though the rises were due to the good news about accepting/creating digital payments in China that makes many people predict the good future of digital currencies.
I expect the scales to change if the price drops sharply after the next halving.
The fact that about 8 million coins did not move seems scary, which could lead to a complete collapse in prices if things do not go well after the next halving.
I expect the scales to change if the price drops sharply after the next halving.
The fact that about 8 million coins did not move seems scary, which could lead to a complete collapse in prices if things do not go well after the next halving.
January 09, 2020, 08:59:51 AM
https://www.coindesk.com/10m-bitcoins-havent-moved-in-more-than-a-year-highest-since-2017
I think the rise from around $3,300 to $7,500 in 2019 was definitely people accumulating in anticipation of the halving.
Watch for rapid sales though as bitcoin reaches it's price targets.
Quote
About 10.7 million bitcoins haven’t moved in more than 12 months, according to Digital Assets Data, a fintech company building crypto data feeds.
Considering the total number of bitcoins in circulation is 18.14 million, this also means nearly 60 percent of the coins remained dormant and only 40 percent participated in the price action seen in 2019. The percentage of bitcoins lying dormant for over a year is at its highest level since early 2017.
“The sheer size of unmoved bitcoin is definitely a sign of the developing community of HODLers,” Kadan Stadelmann, chief technology officer at Komodo Platform, told CoinDesk.
The top cryptocurrency witnessed substantial swings last year, rising from $3,693 to $13,879 in the first six months only to fall back to $7,179 by mid-December. Thus, bitcoin just about doubled last year despite the brutal sell-off in the second half.
Even so, a large number of bitcoins remained inactive, possibly because investors are expecting a significant price rise following the mining reward halving, due in May. The process, repeated every four years, reduces block rewards by half in order to keep inflation under check.
However, if the market doesn’t live up to lofty expectations, some selling could be seen, Stadelmann said. In that case, the sum of bitcoins lying dormant would drop.
Considering the total number of bitcoins in circulation is 18.14 million, this also means nearly 60 percent of the coins remained dormant and only 40 percent participated in the price action seen in 2019. The percentage of bitcoins lying dormant for over a year is at its highest level since early 2017.
“The sheer size of unmoved bitcoin is definitely a sign of the developing community of HODLers,” Kadan Stadelmann, chief technology officer at Komodo Platform, told CoinDesk.
The top cryptocurrency witnessed substantial swings last year, rising from $3,693 to $13,879 in the first six months only to fall back to $7,179 by mid-December. Thus, bitcoin just about doubled last year despite the brutal sell-off in the second half.
Even so, a large number of bitcoins remained inactive, possibly because investors are expecting a significant price rise following the mining reward halving, due in May. The process, repeated every four years, reduces block rewards by half in order to keep inflation under check.
However, if the market doesn’t live up to lofty expectations, some selling could be seen, Stadelmann said. In that case, the sum of bitcoins lying dormant would drop.
I think the rise from around $3,300 to $7,500 in 2019 was definitely people accumulating in anticipation of the halving.
Watch for rapid sales though as bitcoin reaches it's price targets.
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