Cryptocurrency

Bitcoin price on the rise – more than 11.5 million BTC are gehodlt and worry for bullish mood

Bitcoin is currently experiencing a small amount of flight. Since 1. January, the Bitcoin exchange rate rose by more than 25%. On the way to the top of the Bitcoin exchange rate has a positive impact on the Altcoin courses. So a rise in the Crypto Space is nothing New, but nevertheless, the question arises as to the possible reasons for the Pump and how sustainable this really is. One of the reasons could be the number of Bitcoin, which have not been more than a year, moved and thus the market is not available. Currently, a total of approximately 11.5 million BTC have not been moved for a year. What this means in the long term for the Bitcoin exchange rate and what is the role of the Halving plays, let’s look at in this article in more detail. Read also our article “What is Bitcoin”.

Bitcoin exchange rate to new all-time high – HODL wave unshakable

We have already reported months ago about the so-called HODL Waves. HODL Waves are periodic rising waves of BTC holders (HODLern) by a certain number of BTC the market is no longer available. Up to now, this wave took place movements according to the last Bullrun. After the Bitcoin exchange rate reached its then all-time high, came back a short time afterwards, the HODL mentality and the BTC were hoarded. Similarly, it was also the all-time high by the end of 2017.
These waves extend in the rule until the next Bitcoin exchange rate Bullrun. In the past, they are broken apart again and again, as soon as it came to a sharp increase in the Bitcoin exchange rate and a new all-time high was reached. This unwritten Set, we were able to check out quite well in June 2019. At this time, the BTC price cracked almost $ 14,000 mark, after he started at the beginning of 2019 at approx. of 3,200 USD. However, the strong rise could not break the new HODL-wave. Nor the subsequent sell-off to about $ 6,500. This indicates that the Hodler to speculate on much higher prices and in the short term, and not descents move your Coins.
Currently, approximately 11.5 million BTC have not been moved for a year, and the trend is rising. One of the reasons could be Halving especially the approaching Bitcoin. This fundamental event has triggered several times in the past a Bitcoin exchange rate Bullrun. Although not directly to the Halving but a few months to years later. On a similar course, most of the Hodler to speculate probably.

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Shortage of supply by Halving and HODL shaft

The Bitcoin Halving will shorten the supply to the markets. Although there are no precise Figures on the sales of the Miner on the markets, but a certain part will land on the offer page. The miners have to sell BTC to cover their costs of running a Mining Farm. Depending on the Bitcoin exchange rate you can vary your sales. But from may 2020, there will be only half of the BTC for the work of the Miner. Thus, probably less BTC to flow from this point on the market.
The short-term price increase could be explained by the fact that the Halving was not yet priced in and now a small Bitcoin price Rally up to the Halving could begin. In addition, more and more people of the Halving, with wars and finally look deeper into Bitcoin and crypto. The Mainstream media have taken up the issue now, and reports surprisingly positive about Bitcoin and the Halving.

The Bitcoin price keeps its strength up to the Halving?

On Halving itself to the show then really, how strong is the HODL-wave really is. The probability is quite high that the Halving of even the Bitcoin price is experiencing a sell-off. According to the Motto: “Buy the Rumor, Sell the News”, although the BTC Halving is not a rumor, but a fact. However, we have seen in the past, even in the case of Litecoin, is that on the actual day of selling pressure increases. But really we don’t need to make us of the Hodler. Because of the June 2019 has shown us that HODLer speculate on a new all-time high, and not from short-term price jumps be blinded.
We are curious to see how the number of BTC that have not been longer than a year moved up to the Bitcoin Halving and how it will impact on the Bitcoin price. The characters are anyway, in all areas at BTC-to-date on green.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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