Long-Term Bitcoin Holders Hit All-Time High: Is Price Next?
• The supply of Bitcoin is capped at 21 million coins, and 19.3 million are currently in circulation.
• Two-thirds of the Bitcoin supply has not moved in over a year, which is an all-time high.
• Long-term holders are growing despite market carnage, with 49.3% of the supply unmoved for 2+ years and 28.1% unmoved for 5+ years.
Long-term Bitcoin Holders at All Time High
The total supply of Bitcoin is capped at 21 million coins, out of which 19.3 million are currently circulating in the market. Recently it has been observed that two-thirds of the Bitcoin supply have not moved in over a year, making it an all-time high record. Long-term holders are growing despite market carnage and this can be seen by looking at the metrics; 49.3% of the supply remain unmoved for 2+ years and 28.1% remain unmoved for 5+ years or more.
Supply Vs Demand
Truthers argue that this cap will inevitably squeeze the price upwards through the simple economic theory of supply and demand; if demand continues to grow then prices should increase as well due to limited supplies available in the market. However, this has yet to prove true so far despite these long term holder metrics being at all time highs.
Satoshi Nakamoto’s Impact
Another important factor to consider is lost coins; Satoshi Nakamoto alone is estimated to own over one million coins which constitute around 5%of total circulating supplies thus having a major impact on pricing as well as other metrics related to Bitcoins’ performance in markets globally .
Average Hold Period
The average hold period for Bitcoin on chain is 3.8 years meaning that most investors prefer holding onto their coins rather than selling them shortly after buying them; indicating further bullish sentiment among investors regarding their investments into Bitcoins future potential growths .
In conclusion it can be said that although there have been talks about dwindling supplies leading to price boosts, this does not seem to be proving true yet given current data from analyzed metrics – however could still potentially become true depending on how markets react and evolve into future months .