Bitcoin

All-time high of idle bitcoins, which is good for the price in coming months

From a study of the blockchainanalysebedrijf Glassnode it appears that the number of bitcoins in 19 months is lower than it has been. Running is a broad concept which, according to the Glassnode the coin in the past 5 to 7 years, the address was moved.

Source: Glassnode

However, according to many analysts, this is positive for the bitcoin price. A decrease in the number of active bitcoin users, their coins are held in place by it to act on. This can be a sign of trust. A dive in the charts!

The same as in the bull-run in 2017

If you look at the 90-day moving average of the current offerings in the past three years, you start to see a pattern. This indicator has reached a first plateau (green square), after which it declined rapidly (yellow area). The yellow area is a rise in the bitcoin price and the fastest. Came to that conclusion analysis of Stack-Funds.

Or course, now will also rise? That is, it is just a matter of waiting. Earlier this week, we have a bitcoin koersanalyse, it seems that the price of bitcoin is on the break condition. In case of a positive breakout has a target price of 10.800 dollars as possible. But it will drop the price, then this is a 7500 dollar as well as possible.

Especially the miners are holding a lot of bitcoin to the

As a relatively new indicator of Glassnode let’s see is that bitcoin miners are a lot of bitcoins to hold. The Miner’s Netflow Volume is the number of bitcoin in a wallet on a miner goes on, the number of bitcoin is what is going out. That number is then the the seven-day average is shown.

Or, in simpler words, it is the green line? Then miners have more bitcoin than they send out. For almost the entire year, the indicator is in the green. And this is quite remarkable, as the bitcoin halving mine, some of mijnwerkes loss. This indicator shows that the miners are in spite of everything, confidence in the future of bitcoin.

About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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