Crypto Traders be carefull!
The probability of some more dramatic price swings in the near future is high due to a resurgence of activity by anonymous owners of long-dormant BTC accounts.
It all started in October 2018. According to Flipside Crypto (analytics), a big number of accounts who didn’t touch their BTC for between 6-30 months began moving their coins. This trend continued in the beginning of 2019, with digital wallets which were active in the last 30 days now holding about 60% of the circulating supply!
Inactive Bitcoin Accounts Plummet
Addresses that have been inactive for more than 2-1/2 years.
According Stone, the active BTC supply has risen about 40% since mid 2018. Similar wallet activity preceded big swings in BTC price in 2015 and 2017. 2 years ago that revival was the beginning of the wave that took the coin’s price to a ATH of almost $20,000. Since then BTC slumped to around $3,600.
What makes this crypto market moving?
It’s all about the concentration of ownership, which are the so called whales. 85% of all BTC are controlled by about 1,000 addresses and include a lot of early investors who remained rather inactive during the exuberant price wave.
Last month active BTC addresses
Excludes freshly-minted Bitcoins
Whether they’ll be buyers or sellers remains to be seen.