That’s why Bitcoin may be on the rise

‘Hodl wave’ indicates that 60% of the supply has not shifted in a year or more.

As noted Philip Swift, creator of the monitoring resource ‘ Look Into Bitcoin ‘, the data show that 60% of the total supply of Bitcoin not a result of my movement more than a year. 

The last time this happened was in 2016, just before the bullish market began, pushing the currency to $ 20,000.

According to Swift’s chart, there is a strong relationship between the amount of static supply and sharp rises. As Swift himself wrote in a Twitter post:

60% of all Bitcoin has not moved to the blockchain in at least the last year. This is an indication of significant behavior. The last time this happened was in 2016, when the bull market started.

The graph shows Bitcoin supply patterns known as ‘ hodl waves ‘. Circumstances suggest that Bitcoin is extremely profitable for long-term investors.

Data from Unchained Capital revealed that those who bought during the collapse of 2018 to $ 3,100, also hold their investment. 

This 60% static supply has probably not shifted significantly since at least December 2019.