Key Takeaways
- About 12% holders have not sold their bitcoin in the last decade.
- About 19.5% holders have not moved their BTC in about Six to twelve months ago.
- The number of Long-term holders is increasing rapidly.
The recent increase in Bitcoin's value has not motivated the coin holders to consider selling their virtual coins.
According to Glassnode data, the percentage of bitcoin being held by holders currently has hit a historical amount of 85% in the last three months.
Data obtained from the analytic platform, Glassnode, was used by Colin Wu, a renowned reporter from China to highlight the behaviors of BTC holders to the recent surge in the currency value.
As illustrated by the data, it shows that the percentage of holders that have not sold their BTC in the last decade has grown to reach 12.3%. As a result, the token is seen as being dormant.
Meanwhile, the percentage of holders that have not sold or sent their BTC in the last two to three years stands at 10% while the percentage for those holding for five to eight years is about 12.26%.
Interestingly, the highest percentage of holders are those that haven't transferred their Coins in about six months to a year, they are about 19.5% of the entire holders.
Generally, 85.14% of existing bitcoins have not been transferred or sold for more than three months.
This is occurring even with the recent increase in the BTC value in this said period. About three months ago, the value of the Coin was reduced to around 30,000 dollars.
Since then, the Coin value has significantly appreciated even up to about double its initial price. But it seems that Bitcoin's traders are anticipating a further rise in the Coin value, which is hindering them from considering selling the digital asset.
As a confirmation for the claim that holders are not willing to sell their Bitcoins, Cryptopotato recently reported that the number of Long-term holders is also increasing coin value as the number rises to hit a new record high.
It appears that this increase has intensified. Another data from Glassnode shows that the Long term holders' supply is increasing at a very rapid rate. Around 13× to 15× of the new BTC issuance.
The data indicates that the said long-term holders are stacking sats 13 times faster than the new Coin mined by BTC miners.
The analytic platform explained that crypto holding has dominated in the last seven months, and over 2.37 million bitcoin have moved from short-term holding to a long-term holding period of approximately 115 days.
The platform made it known that miners have mined only 186 thousand new bitcoins within this period.
Do you think the Bitcoin will reach 90k in price this yeae?
