- Kraken executive has said that almost 61% of Bitcoin has not shown any recent activity which makes it an all-time high.
- 61% of Bitcoin has not shown any activity for the last 12 months.
- These recent statistics have the analysts and experts think that a long term trend of Bitcoin is lying ahead of us.
Dan Held, the lead of the business development at Kraken, the leading cryptocurrency exchange has said that almost 61% of Bitcoin supply has not shown any recent activity which makes it an all-time high. The number of Bitcoin has not shown any activity for the last 12 months. These recent statistics have the analysts and experts think that a long term trend of Bitcoin is lying ahead of us.
During the Black Thursday market of March, the Bitcoin market value has fallen down to the $3,600 mark. It had lost a large portion of market capital, approximately $160 million. Not only Bitcoin, but many other cryptocurrencies also faced similar consequences.
Investor’s Growing Confidence In Bitcoin, A Good Sign
Despite all the heavy recession, damages, and losses Bitcoin paved its way out the crash. It recovered soon enough and rekindled the trust of investors. Traders and investors had become pretty confident with Bitcoin by now.
Soon, Bitcoin touched the $10000 restriction market indicating a bullish run. However, followed by this, Bitcoin was struggling to keep its value above the $9000 mark now hinting towards a possible bearish market. Consequently, the concept of accumulation has been growing among investors.
The percentage of investors are holding Bitcoin for a long period has dominated all other kinds of investments. Long term investors often believe that Bitcoin is the new digital gold. Retail investors can be easily identified because they mostly hold or store the Bitcoin in non-custodial cryptocurrency wallets and exchanges.
However, the institutional investors and their related profits are very easily exposed by investment ventures such as Grayscale trusts. The inactivity in the supply of the Bitcoin for over a year confirms that the user’s accumulation mode is one.
Positive Trend Seen In Retail As Well As Institutional Investors
The good news is that the positive trend of Bitcoin among the retail investors and the institutional investors are increasing simultaneously. This means an increase in the adoption of the Bitcoin market.
The analysts suggest that the current bearish market may result in an increase of the retail investors. However sadly the low amount of Bitcoin in the largest of exchanges as compared to the previous years. It hints directly that the craze of trading digital assets is allover decreasing.