news Over 10 Million Bitcoins Are Being HODLED

[kyoukage01 3181]

We all (or at least some of us) know that Bitcoin's 2020 halving is drawing closer. This has prompted most investors to hodl Bitcoins now for the expected bullrun and reap huge profits. After reading this article and seeing the figures, I am now fully convinced that a bullrun is indeed inevitable.

 

Here are the articles and the links.

 

Spoiler

Over 10 Million Bitcoins Are Being HODLED

 

According to Digital Assets Data, 10.7 million Bitcoins worth USD 84.5 billion have been sitting for more than a year. This implies that people have been holding onto these Bitcoins without selling them or transferring them. This represents 59% of the current total Bitcoin supply of 18.15 million.

 

This statistic is bullish for a couple of reasons. First off, according to the law of supply and demand, less market supply causes an increase in price. More Bitcoins being HODLED means there are fewer Bitcoins available on the market, leading to a higher price.

 

Further, these 10.7 million Bitcoins are likely being held onto in expectation of a future price increase. Essentially, if investors thought Bitcoin was going to decrease in price they would simply sell it, but since investors generally believe Bitcoin is going to increase in price they are holding coins en masse.

 

This lines up with the recent increase in the Bitcoin mining hash rate to an all-time high, which suggests that miners are accumulating Bitcoin in expectation of a future price increase as well.

source: https://bitcoinnews.com/over-10-million-bitcoins-are-being-hodled/

 

Spoiler

10M Bitcoins Haven’t Moved in More Than a Year, Highest Since 2017

 

“HODLing” has returned to a major milestone: The total number of bitcoins that haven’t changed hands in more than a year has crossed the 10 million mark. 

 

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. 

HODLers underwater

Another strong reason for the growing number of bitcoins lying dormant could be that a sizable portion of HODLers are doing so at a loss and are holding on to their investments. 

 

“Many investors are potentially still underwater with bitcoin that was purchased at higher prices in 2017 and 2018,” said Kevin Kaltenbacher of Digital Assets Data.

Prices higher than the 2019 high of $13,879 were observed during the December 2017-February 2018 rally, and many investors may have acquired coins during that bull market frenzy. 

 

However, the fact these investors have not sold indicates they are likely betting on long-term growth prospects.

source: https://www.coindesk.com/10m-bitcoins-havent-moved-in-more-than-a-year-highest-since-2017

 

Maybe it would be easier now to predict how high the Bitcoin to Dollar exchange rate would be 😉 . And not to mention that the whales are definitely waiting in anticipation. And how about the altcoins? Will their prices be affected significantly by Bitcoin?

 

What are your thoughts on the matter?

 

And have you prepared yourselves for the charging bull?

 

Please share your thoughts.

 

Edited January 7, 2021 by kyoukage01

[Opinder 1310]

It is nice topic you have shared. If more than half of the bitcoin supply is already holded by investors for halving. Then supply is very low against demand. It means price would definately increase dramatically. It would also impact altcoins because due to shortage of bitcoin people would start buy altcoins.

[PiroSense 2681]

2 hours ago, kyoukage01 said:

What are your thoughts on the matter?

Altcoins have been known to follow the pattern of Bitcoin's chart. Just have a look at the 7d chart on a cryptocurrency market statistics website such as CoinMarketCap, and notice the similarities in the trends of the charts.

 

Source: https://coinmarketcap.com/

 

As I have highlighted with a blue line, This line is mostly their peaks on the last 7 days, following a pattern of an uptrend with a slight downtrend as of now.

 

*Tether is excluded since it's price is constantly changing to mimic a single US dollar.

[Sourovdeb890 416]

Bitcoin seems to me to be a lot higher price in 2020, and you are saying that after looking at the statistics you understand that Bitcoin prices will rise, I also went through those links and realized that the price of bitcoin is likely to go up a lot.

[sdsonjoy50 886]

If Bitcoin just becomes a hotel, then they will be very hurt to us as the market price of Bitcoin is going very well at present.

[Migo 7946]

These a good informations, because we need to keep ourselves updated with thus kind of topics, because if we went deeper into crypto world we will find a lot of hidden things maybe we never heard about them at all

[fuer44 1083]

bull run will come soon, starting from the purchase of bitcoin in the amount of hold, bitcoin halving, and several other economic factors that allow bitcoin to rise to the moon. This is almost similar to what happened last 2017, and I think this is very realistic.

[Zues 1069]

If this coin will release soon the price market of the cryptocurrency will explode and many people make transaction and get a lot of profit. 

[McCree 713]

On 1/10/2020 at 7:57 AM, Cloud said:

Wow, that's a lot of money they have there. No we know that there are a lot of people who believes that bitcoin will have a great price once again, which is why they're hodling them. And my lord, that's a lot of bitcoin huh.

Most fiat money in the world is also dormant, it's not being traded around constantly. People move around their bitcoins when they want to change their wallet address or avoid getting their client hacked. So if other cryptocurrency holders mimic this behavior and also HODL, it will be healthier for the market.

[bentayebsalah 2280]

I'm not really ready for this event yet because I sold all of my Bitcoin and now I'm trying to collect some of it and buy as well
I expect bitcoin to rise during this upcoming split in a crazy way

[Thekingcallme 1975]

3 hours ago, bentayebsalah said:

I'm not really ready for this event yet because I sold all of my Bitcoin and now I'm trying to collect some of it and buy as well
I expect bitcoin to rise during this upcoming split in a crazy way

For me, I'm quite ready and waiting for Bitcoin to spike and split eagerly
Because I think I've collected enough cryptocurrencies, the most important of which is Bitcoin

[BTC Future 3946]

Hodling is what investors are doing with stocks. They don't just look at the price all day and day trade them. They invest in something they think that has potential. Bitcoin is like that. Still some people think that there are actual hodlers that never sold any Bitcoin and just sit back and relax. This isn't happening. Every single one has sold.

The early investors sold when the first exchange was created. They were selling their daily mined coins.

Later they held some instead of dumping it all until price reached 100$ where they dumped again. Then with 1000$ the same. 

Now if someone became a millionaire he already sent enough to his bank to be able to live the way he wants to and might hodl the rest in Bitcoins. These are the hodlers.

People that already profited enough but still care about Bitcoin and don't want to sell the rest they are holding.

Edited February 1, 2020 by BTC Future

[Armcannon 858]

I'm not surprised if lots of investors are holding bitcoin as investment.we all know that bitcoin is the best way to invest money these days.and everyone is hoping that they're gonna make lots of profits in the future  if they hold this coins.

[Hatred 1388]

On 1/10/2020 at 1:04 PM, kyoukage01 said:

We all (or at least some of us) know that Bitcoin's 2020 halving is drawing closer. This has prompted most investors to hodl Bitcoins now for the expected bullrun and reap huge profits. After reading this article and seeing the figures, I am now fully convinced that a bullrun is indeed inevitable.

 

Here are the articles and the links.

 

source: https://bitcoinnews.com/over-10-million-bitcoins-are-being-hodled/

 

source: https://www.coindesk.com/10m-bitcoins-havent-moved-in-more-than-a-year-highest-since-2017

 

Maybe it would be easier now to predict how high the Bitcoin to Dollar exchange rate would be 😉 . And not to mention that the whales are definitely waiting in anticipation. And how about the altcoins? Will their prices be affected significantly by Bitcoin?

 

What are your thoughts on the matter?

 

And have you prepared yourselves for the charging bull?

 

Please share your thoughts.

 

I think altcoins will be also effected by the halving bitcoin. Also, I can say that I am prepared for the upcoming bull run because as of now, I'm holding my coin in my wallet and it is ready to be traded in the market when the bull run happens.

[babaji 1228]

If 10 millions are hodled, then the market circulation should be around 7mn since 1 million is with Nakamato. That was not why bitcoin was created, but if that's the situation, well there is no other way, people who don't have bitcoins will have to pay higher price. 

[Hatred 1388]

On 1/10/2020 at 1:04 PM, kyoukage01 said:

And have you prepared yourselves for the charging bull?

I know that bull run will soon to come. That's why I hold my coins for a very long time because I want to be ready when bull run comes. And now, I think I am ready to experience bull run.

[tienda 8776]

So if there are 10 million holed  what will be happen after the halving? so there are many holder who convert to rich or many holder who convert to what? But I m sure that when those 10 million will inject on the market will move the market.

 

 

[kyoukage01 3181]

On 2/24/2020 at 6:33 AM, tienda said:

So if there are 10 million holed  what will be happen after the halving? so there are many holder who convert to rich or many holder who convert to what? But I m sure that when those 10 million will inject on the market will move the market.

 

 

Possible scenarios:

• Once prices started to spike high after halving event, hodlers started selling their holdings, possibly dampening demand and slowing down the price increase.
• A large portion of those hibernating Bitcoins remain untouched due to certain decisions and events (long-term hodling, owners deceased, etc.). Bitcoins will steadily rise as a result.

I think that not all of those Bitcoins will move at once right after halving and significantly affect the market. Remember that the last halving event was somewhere in 2016 if I'm not mistaken, but it was in 2017 that Bitcoins blasted off to the moon. Still, the crypto market is ever fickle, so predictions like these are not set in stone, and anything can happen.

 

Edited March 17, 2020 by kyoukage01

[Whited35 15285]

Investors are holding the bitcoin. There are some really genuine and the remarkable reasons. Bitcoins are being holded because they can be used to sell in the market when the mining fees are extremely high in the market. Price will be very high in the market. 

[kyoukage01 3181]

4 hours ago, halloweed said:

That would mean the hld3ers of about 60% of bitcoin supply are dead, but i'm not real sure what does that mean for bitcoin, could mean that 50% of bitcoin  demand is sealed.

One would think that some hodlers have already died over the years, and still more have followed after being infected by this year's coronavirus. A morbid thought, but possible.

 

But if 50% of Bitcoins is sealed as you've said, then the other 50% would still be a huge amount. And with prices falling low recently, many found this as an opportunity to buy and hodl more cheap Bitcoins, adding more to the hidden Bitcoins in the process.

 

[CryptoMaxim 3829]

On 10.01.2020 at 09:31, Opinder said:

It is nice topic you have shared. If more than half of the bitcoin supply is already holded by investors for halving. Then supply is very low against demand. It means price would definately increase dramatically. It would also impact altcoins because due to shortage of bitcoin people would start buy altcoins.

I also believe that the bull run will be. Of course there are a lot of forecasts but I wonder at what point the price will peak. After all, this also plays an important role.

[Honny143 13612]

I don't think 10 million bitcoin holding by investors, because I heard one news few months back around 4 million bitcoins stolen by hackers are stolen, so I think this coins not mention any where that's why I think the holding figure is less, but your topic is useful.

[bliznec 22267]

Altcoins, I think, which are attached to the exchange rate of the value of bitcoin, will also rise in price. This will definitely lead to an increase in the prices of those coins, cryptocurrencies, which are located in the top 10 at coinmarketcap.com. Yes, Halving will lead to very huge growth, it takes time. This will not happen immediately. Within three, four months, after Halving Bitcoin, the price of Bitcoin will rise above $ 20,000.

[magd 5231]

On many sites specialized in analyzing the future of cryptocurrencies, we find articles that agree with you, my friend, that the bull race is inevitable, but I suspect that it will hinder the movement of whales who use illegal methods to deal with cryptocurrencies. We hope that things will be resolved in favor of cryptocurrencies.

Edited April 4, 2020 by magd

[Treat1234 0]

If such amount of bitcoin accounting about 10 million coins is hold for a good purpose, then we should be expecting more rise of bitcoin price, bitcoin price will soar higher soon