Only 27% of BTC total supply has moved in 2020
Bitcoin is being held very tightly, which is what we have seen right before major rallies
HODLers are doing something even better than they normally do...
They are HODLing on for dear life.
We already saw that the majority of BTC hasn't moved within the last year, 61% to be precise...
And now we are seeing that so far in 2020, it's being held even tighter than it was previously.
Year to date, 73% of BTC hasn't moved...
(Source: https://twitter.com/n3ocortex/status/1277977417714286603)
BTC is a raging bull market just looking for a spark...
Based on those percentages above, that means roughly 13.5 million BTC hasn't moved since last year.
This is similar to what we saw at the start of the last major bull market rally where BTC started to be held more and more firmly.
The sellers basically dry up and the rest are just hodling.
Keep in mind that this time around, a large portion of that is likely the Bitmex Insurance fund, but no matter how you slice it, a large portion of BTC is locked up and being held by strong hands.
All it will take is a little demand coming in and the price will move up from current levels rather easily.
Stay informed my friends.
-Doc
If a lot of the BTC would move, we would see the Pikachu farting I have been speculating... It would slingshot BTC value to where no Star Trek character has ever been...
Ha, yes there is that as well. They have been to an awful lot of places...
I'm still waiting for the big climb, but all indicators are currently saying BTC is overvalued, not undervalued...
Which indicators are you referring to?
You know I only use one indicator, EMA... Currently I'm watching weekly EMA100...
So sad I sell my btc 3 years ago😭