There is a large number of Bitcoin (BTC) currently stored in the same wallet without being moved since 2018. This shows that there is a large number of investors waiting for the price of the most popular digital asset to enter a new beef market. This is according to data provided by by BitInfoCharts.
Bitcoin Supply continues sleeping
Bitcoin has recently moved from $ 4,200 a few months ago to $ 8,400, the largest price recorded by Bitcoin for over eight months. The end of the bear market that hit Bitcoin and the entire crypto game in 201
BitInfoChart shows that 10.5 million BTC, half of the offer from Bitcoin, did not leave their wallet since May 5, 2018. This is twice the amount of BTC stored from January 5, 2017, before the bull runs to $ 20,000.
As time goes by and we enter a new accumulation phase, the number of BTC continues without moving, as time goes on. We have also recently written on UseTheBitcoin that there are 732,000 Bitcoin addresses that have a Bitcoin or more stored. Surprisingly, there are only 4 addresses with more than 100,000 BTC.
A few days ago, Whale Alerts, a Twitter bot who records large transactions from different networks, informed that an investor moved 10,500 BTC between wallets in three separate transactions that moved $ 83.4 million in funds. Today, this user moved over 16,000 BTC valued at around $ 127 million.
Over the past few months, Bitcoin enthusiasts and investors have put their funds in the crypto market. The mood has changed, and Bitcoin could eventually reach new heights in the future. In fact, the digital currency was able to reach the highest point of more than eight months.
Arthur Hayes, CEO of the BitMEX crypto plan, has also participated in his bitcoin enthusiasm. He said the network fell below $ 7,000 for a short period, but it immediately increased back to $ 8,000.
When writing this article, Bitcoin is traded around $ 7,850 and it has a market value of $ 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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