Topic: 55% of bitcoin circulating supply have not moved since 2018 - page 2. (Read 253 times)
To be honest, I really salute them for not moving their bitcoin from a long time ago and still had that bitcoin. It is really hard to hold this time, especially since the bitcoin price now is $50k. We do not know who they are, and although we can still see how many bitcoins in the wallet, that will be a mystery to us to know the owner. But I do not want to know who they are since that can be any one of us who still keeps that bitcoin on that wallet. Or maybe that people lost the keys, so they can not access the wallet.
What I find strange about the article is that it uses as a heading a conclusion that seems to be draws from early March 2020 (see https://medium.com/glassnode-insights/breaking-up-on-chain-metrics-for-short-and-long-term-96337cc0cf6d). Assuming the conclusions are from data that is at least 2 weeks old, bitcoin was around 10K at the time, and with the current price, things are bound to have changed.
Furthermore, the heading is derived from this quote:
The article does juggle some 2021 data in certain places, and honestly, I don’t follow it all, but the opening heading seems stuck in time, and does not account for recent events.
Furthermore, the heading is derived from this quote:
Quote
Around 37% (~7 million) of the existing Bitcoin supply hasn’t moved since the last ATH in December 2017. Similarly, more than half of circulating bitcoins (55%) have not moved since the market bottom in late 2018 more than a year ago. Clearly, these numbers illustrate that there is a substantial amount of investors committed to hodl over long periods of time, i.e. Long Term Holders (LTH).
The bolded statement confirms what I said time wise, and points to the conclusion being from around early 2020.The article does juggle some 2021 data in certain places, and honestly, I don’t follow it all, but the opening heading seems stuck in time, and does not account for recent events.
It is clear that the data shows a trend but we must not forget that there are many Bitcoins that do not move, simply because the keys have been lost. Neither have they moved recently nor will they ever move. Some estimates put the number of lost Bitcoins as high as 4 million. If we take this into account, we would conclude that the Bitcoins that can be moved and have not been moved since 2018 are 33%.
Be more accurate in your figure according to the statistics 37% not 33% as you put and the total amount is $7 million against the $4 million you stated here.Although the data comprises both active and inactive wallets, if you do your math very well you will still arrive at a significant percentage of active wallets holding their bitcoin compare to the inactive wallets.
Data have shown how more than half of bitcoin circulating supply have not been moved from their host wallet since the bitcoin deep of 2018, this have shown grreat length how die hard hodlers can go a long way down the road without moving they bitcoin from one wallet to another or to an exchange despite the current bitcoin market price.
At this moment those wallets have done 17× profits and still the long term hodlers (LTH) are not given up on the race to becoming the steel hands bitcoin hoders.
Credit:
https://news.bitcoin.com/btcs-hands-of-steel-37-bitcoins-supply-hasnt-moved-2017-55-sat-idle-2018s-bottom/
At this moment those wallets have done 17× profits and still the long term hodlers (LTH) are not given up on the race to becoming the steel hands bitcoin hoders.
Credit:
https://news.bitcoin.com/btcs-hands-of-steel-37-bitcoins-supply-hasnt-moved-2017-55-sat-idle-2018s-bottom/
They are experience guys so expect this to be happen but I just wondering on how those guys can able to hold their patience since even at this point they already earn so big and imagine how lucky they are if bitcoin price reached at triple digit. Hopefully manipulators won't use this news if they start to move their bitcoins on open market.
They've hold it for more than 3 years now, I doubt that they are going to move it just because we have reach $60k. Those long term holders are either waiting for the right price to sell or they are really going to hold it for the next 10 years to give them a good profit that can sustain and have a good life in the future.
There even a data that there are less crypto investors holding their bitcoin in an exchange and moving it on a wallet that they have total control. Sign that we in still in the bullish phase.
There even a data that there are less crypto investors holding their bitcoin in an exchange and moving it on a wallet that they have total control. Sign that we in still in the bullish phase.
Is that bad or is it good? Can't decide it
Good if you're more of a "bitcoin is for store of value" guy.
Bad if you're more of a "bitcoin is for payments" guy.
Good if you think that people should just use bitcoin for whatever purpose they want.
Data have shown how more than half of bitcoin circulating supply have not been moved from their host wallet since the bitcoin deep of 2018, this have shown grreat length how die hard hodlers can go a long way down the road without moving they bitcoin from one wallet to another or to an exchange despite the current bitcoin market price.
At this moment those wallets have done 17× profits and still the long term hodlers (LTH) are not given up on the race to becoming the steel hands bitcoin hoders.
Credit:
https://news.bitcoin.com/btcs-hands-of-steel-37-bitcoins-supply-hasnt-moved-2017-55-sat-idle-2018s-bottom/
At this moment those wallets have done 17× profits and still the long term hodlers (LTH) are not given up on the race to becoming the steel hands bitcoin hoders.
Credit:
https://news.bitcoin.com/btcs-hands-of-steel-37-bitcoins-supply-hasnt-moved-2017-55-sat-idle-2018s-bottom/
Is that bad or is it good? Can't decide it
It is clear that the data shows a trend but we must not forget that there are many Bitcoins that do not move, simply because the keys have been lost. Neither have they moved recently nor will they ever move. Some estimates put the number of lost Bitcoins as high as 4 million. If we take this into account, we would conclude that the Bitcoins that can be moved and have not been moved since 2018 are 33%.
In 2018 during a bear market the only option was to HODL even though a lot of people
panicked ans sold out making a loss after buying in the previous year at high prices.
We who held our Bitcoin are being rewarded no for the work of Holding and adding
cheap Bitcoin and Satoshi's.
The strategy of HODL also works in Bull markets.
panicked ans sold out making a loss after buying in the previous year at high prices.
We who held our Bitcoin are being rewarded no for the work of Holding and adding
cheap Bitcoin and Satoshi's.
The strategy of HODL also works in Bull markets.
It is a good thing that they are hodling because this means that the supply is slowly going lower and with that the demand increases because of the low supply. I am quite surprised that 55% of bitcoin hasn't moved, that is quite a lot of bitcoin for it to not moved, they might have included the lost coins in this percentage.
Data have shown how more than half of bitcoin circulating supply have not been moved from their host wallet since the bitcoin deep of 2018, this has shown great length how die hard holders can go a long way down the road without moving their bitcoin from one wallet to another or to exchange despite the current bitcoin market price.At this moment those wallets have done 17× profits and still, the long-term holders (LTH) are not given up on the race to becoming the steel hands, bitcoin holders.Credit:https://news.bitcoin.com/btcs-hands-of-steel-37-bitcoins-supply-hasnt-moved-2017-55-sat-idle-2018s-bottom/
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