Chainalysis: Bitcoin's $30 billion sell-off

in #cryptocurrency6 years ago

The developer of tools for the analysis of a blockchain of Chainalysis has presented results of the new research in which he has broken participants of the market of bitcoin into groups and I have tried to explain the last reduction of price of cryptocurrency.

As analysts have found out, during the period from December, 2017 to April, 2018 long-term holders of cryptocurrency have transferred to speculators $30 billion in bitcoins, and a half of this sum has fallen on December.

"This case was an unprecedented sale which will hardly repeat soon" — they write.

The volume of the bitcoins which are in hands of investors today is equivalent to the volume which is held by speculators and use various services for implementation of transactions while in November, 2017 two thirds of bitcoins belonged to investors.

The most part of bitcoins really is at the disposal of a small number of players, analysts write, however the situation has begun to change with change of a ratio of speculators and investors. 5 million bitcoins, that is a third of available issue, possess 1 000 long-term investors and to 600 new large speculators. 

Analysts claim that about 50% of bitcoins keep for the investment purposes. At the same time for Bitcoin Cash fork this indicator is much higher – 90%.

As of April, 2018 from the extreme volume of issue of bitcoin in 21 million 4 million haven't been got, at least 2.3 million have been lost, 7.4 million belong to long-term investors from whom 1.5 million more can be lost, 2.2 million are used for implementation of transactions, including the exchanges, and 5.1 million are used for speculation.

Chainalysis claims that such shift of emphases in the market could become one of major factors falling  the prices which we observed since beginning of year. New speculators probably exert negative impact on the bitcoin price. The volume the bitcoins available to trade, since December, 2017 has increased by 57%. That the price was restored, or speculators have begin "to hodlit" the bitcoins, or demand provided with inflow of new wave speculators or emergence new scenarios use of cryptocurrency has to grow.

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Greeting to you @keks .... how are you ??? .... thank for sharing this informative post

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