The number of active bitcoin wallets, which had long been in hibernation over the past few months has grown significantly, and this can have a big impact on the market. This writes Bloomberg with reference to the analytical company Flipside Crypto.
According to the researchers, beginning in October 2018, a large number of holders of bitcoin that for a long time – from six to thirty months – did not commit any transaction started to move the coins. As a result, the number active in the last month of the wallets contains about 60% of all released to date, bitcoin.
In General, according to Crypto Flipside, in the summer of 2018, the number of active bitcoins has grown by 40%.
“It’s definitely a big change, which have more potential for price fluctuations”, — said the Director of analysis and data processing Flipside Crypto Eric stone.
According to Bloomberg, a similar increase in the activity of the wallets were preceded by periods of large volatility of bitcoin prices in 2015 and 2017, while in the second case cryptocurrency eventually went on their historic highs, rising to $20 000.
The graph below shows the decline in the number of active wallets in the period from June 2018.
CEO David Bolter also noted that increasingly active those bitcoin holders who abstain from transactions of market volatility in recent years. According to him, this trend may continue.
“We see no reasons why they will be inactive for the next two and next year,” said Bolter.
We will remind, in the report of the company Diar for September 2018 stated that more than 55% of all released at that time bitcoin was in the wallets with balance over 200 BTC. It was noted that a third of the coins from these wallets have never participated in outgoing transactions, which may indicate a loss of private keys or on a strong belief in the future of cryptocurrency from the owners.
Another study Diar for December 2018 showed that by the end of November the large holders of Ethereum was 80% more coins than in January.
Subscribe to the channel Forklog in YouTube!
Source
