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Investors Accumulate Bitcoin Before Halving

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Miner reward cuts soon. Halving supposedly to happen on May 12. Because of what, the bitcoin inflation rate will halve. Many analysts believe that a shortage of supply will affect a significant increase in the rate of bitcoin.

bitcoin halving

According to the analytical resource Glassnode, more and more cryptocurrency investors are actively building up their positions in bitcoin.

It is noted that almost 43% of all BTCs that are in circulation have hardly moved out of wallets over the past few years.

Long Term Holders

Over the past year, this figure has grown by 10.4%. The drop in bitcoin prices had practically no effect on the position of long-term holders, even though in March there was one of the largest market collapses in history.

Long Term bitcoin Holders

Also, the change in the “net” position of the holders remained positive. Although in mid-March, bitcoin sharply dipped by more than 30%. This suggests that investors who invested in the long-term, not only continue to stick to their plans but also earned on cheaper Bitcoin, increasing their position.

the change in the “net” position of the bitcoin holders

Change in a Strategy

Just a month after the March crash, or the long-term reached record highs. 2,037,503 BTC in just eight days.

the number of bitcoins purchased

It means that:

  1. Traders who bought bitcoin during the March collapse hold on to their new positions;
  2. As the market recovered, changes occurred in a strategy of market participants. Medium and long-term investment strategies have again become favorable.

The number of investors owning from 100 bitcoins reached a record mark of 14,536 wallets. Gaining 4.3% compared to last year.

Despite the uncertainty in the cryptocurrency markets, statistics indicate an optimistic view of investors regarding the upcoming halving.

At the time of writing, BTC / USD is trading at $ 7723 on the BitXmi cryptocurrency exchange.

 

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

1 Comment

  1. Taslima akter April 29, 2020

    nice

    Reply

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