Those owners of dormant accounts are "waking up" only to sell the Bitcoins and take the profits.
Maybe a part of them will buy some Bitcoins,or maybe altcoins,but it's all about selling.This will have an impact over the Bitcoin price and it will push the bulls down and stop the rally.
This happens every time the price shows significant growth.The HODLers are waking up and start selling BTC,which eventually leads to a price correction.
Anyway,I prefer this situation on the market,rather than the July stagnant and "sleeping" Bitcoin market.
Topic: Japan's Dormant accounts waking up finally - page 2. (Read 371 times)
The Japanese are crazy traders as well, so we might even attribute these price rises with some of them revisiting their trading accounts and starting to make something out of the current craze. I'm sure the South Koreans will also be a part of this newly-found hype around bitcoin and might even cause some massive pushes along the way. They are seeing something on this activity, that's for sure.
I don't think governments will eye on CBDC rapid development just because crypto is surging recently. Well, some countries might find it as a sign but others will surely focus on other things rather than spend on R&D on CBDCs. The road to countries creating their own CBDCs is still a winding one with a lot of uncertainties, but we'll get there eventually, and the current events are surely not catalysts to it becoming a reality.
Anyways, maybe with these events happening, there would be eye-openers towards the government to really focus on developments on CBDC just like in the article. Then, it would be better for everyone. As for Libra, discussed in the article. They are possibly aiming high to be the future of money instead of just being a "token," and it could be labeled as a shitcoin.
I don't think governments will eye on CBDC rapid development just because crypto is surging recently. Well, some countries might find it as a sign but others will surely focus on other things rather than spend on R&D on CBDCs. The road to countries creating their own CBDCs is still a winding one with a lot of uncertainties, but we'll get there eventually, and the current events are surely not catalysts to it becoming a reality.
I actually saw their article in their Telegram channel, and I find it amusing that their thumbnail is like that, assuming that it's older people. It's quite funny, lol.
Anyways, maybe with these events happening, there would be eye-openers towards the government to really focus on developments on CBDC just like in the article. Then, it would be better for everyone. As for Libra, discussed in the article. They are possibly aiming high to be the future of money instead of just being a "token," and it could be labeled as a shitcoin.
Anyways, maybe with these events happening, there would be eye-openers towards the government to really focus on developments on CBDC just like in the article. Then, it would be better for everyone. As for Libra, discussed in the article. They are possibly aiming high to be the future of money instead of just being a "token," and it could be labeled as a shitcoin.
Do addresses that have received BTC count as "dormant addresses" as well though, or is it just addresses that have not made any kind of txs in a while?
Just in case you confused, note that in the article what is defined as "dormant" are the accounts on the exchange platform that were inactive for a while, there is no mention to addresses.
But to anwser your question a BTC address is considered dormant despite the fact it still receives transactions. See for example the Top Dormant for 5 years Bitcoin Addresses and the last in dates. What matters is the last TX out
Interesting for sure. I'm getting an increasingly strong feeling a wild BTC ride is on the way, and dormant addresses waking up is making me even more confident. Do addresses that have received BTC count as "dormant addresses" as well though, or is it just addresses that have not made any kind of txs in a while?
i think no withdrawals are what make it dormant
Interesting for sure. I'm getting an increasingly strong feeling a wild BTC ride is on the way, and dormant addresses waking up is making me even more confident. Do addresses that have received BTC count as "dormant addresses" as well though, or is it just addresses that have not made any kind of txs in a while?
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How it can affect us ?
1) Price might be affected if these accounts starts trading
2) Since some Investors are moving from Gold to Bitcoins this might mean start of a golden era for cryptocurrencies
In my opinion it is too early to come into any conclusion. Bitcoin price prediction is never corrency and I think the price will go down in the next few day. Investors will book profit now and I do not think these dormant accounts will add any value to the existing price.
https://cointelegraph.com/news/japans-dormant-btc-trading-accounts-wake-up-as-bitcoin-price-rallies
If you guys do remember there was a survey conducted where the people holding Bitcoins for the long term said they won't actually sell their Bitcoins if the price never breaches 10k $ , they would rather die instead of selling.
Now with the recent rally of the price climbing up , the dormant accounts are waking up , especially in Japan.
According to the analysts , this specifically has the following reasons:
1) Price of Bitcoins breaking the resistance
2) Government paying stimulus around 930$ per household
3) Surge in the price of Gold
4) People wants to buy Bitcoins so they don't want to wait to make new accounts , therefore they are using their old accounts which were dormant since long
_______________________________________________________________________________ __
How it can affect us ?
1) Price might be affected if these accounts starts trading
2) Since some Investors are moving from Gold to Bitcoins this might mean start of a golden era for cryptocurrencies
_______________________________________________________________________________ ___
According to the source the trading volume is up by 2*/3* times this week.
If you guys do remember there was a survey conducted where the people holding Bitcoins for the long term said they won't actually sell their Bitcoins if the price never breaches 10k $ , they would rather die instead of selling.
Now with the recent rally of the price climbing up , the dormant accounts are waking up , especially in Japan.
According to the analysts , this specifically has the following reasons:
1) Price of Bitcoins breaking the resistance
2) Government paying stimulus around 930$ per household
3) Surge in the price of Gold
4) People wants to buy Bitcoins so they don't want to wait to make new accounts , therefore they are using their old accounts which were dormant since long
_______________________________________________________________________________ __
How it can affect us ?
1) Price might be affected if these accounts starts trading
2) Since some Investors are moving from Gold to Bitcoins this might mean start of a golden era for cryptocurrencies
_______________________________________________________________________________ ___
According to the source the trading volume is up by 2*/3* times this week.
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