Bull Run Confirmed study shows upto 60% of Bitcoin’s Supply Hasn’t Moved in Over a Year

By Apoorv Gupta May 28, 20201032 views

60% of Bitcoin’s Supply Hasn’t Moved in Over a Year

Phillip Swift, the founder of the BTC monitoring web portal Look Into Bitcoin has noted that 60% of the bitcoin supply in circulation has not moved in over a year. Swift tweeted that this typically signals a trend toward the beginning of a bull run, as it did in late 2016 and into 2017. Swift stated:

60% of all bitcoin has not moved on the blockchain for at least 1 year. This is an indication of significant hodl’ing. The last time this happened was in early 2016, at the start of the bull run.

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Swift’s findings and the Hodl Waves chart he shared, shows that the 60 percentile has held steady for close to six months. Some traders have said that Goldman Sachs and Hedge fund manager and investor, Paul Tudor Jones’s statements have made crypto investors more bullish.

Apoorv Gupta

Initiating acceleration of solutions Apoorv Gupta (AG) is serial entrepreneur and known for growth hacking, brand management, scalability consulting. He is well conserved in fintech and blockchain space. Monitored and analysed both short and long-term growth plan for startups. Specialties: Investment analysis, competitive analysis, business development & growth marketing.