Bitcoin Holders' long-term inactivity is being challenged
In a recent article uploaded by William Suberg, he left some questions worth analyzing about long-term Bitcoin holder inactivity, and how that inactivity is slowly being challenged as BTC emerges from hibernation.
In Suberg's words, “The latest data shows that Bitcoin, dormant in wallets for a decade, is on the move,” now, “According to on-chain analytics platform CryptoQuant, thousands of coins are ‘waking up’ daily as the Bitcoin price challenges USD 70,000.”
On the other hand, “CryptoQuant's spent production age banding metric shows that on June 2 alone, 2,800 BTC moved on-chain for the first time in between two and three years. The four- to five-year stationary coin count was even higher at 4,500 BTC.”
The truth is, “CryptoQuant data shows that this ‘older’ generation of BTC started to become more active in late February, in the run-up to what remains Bitcoin's all-time high of USD 73,800.”
Finally, long-term Bitcoin Holders in a dormant state, in this regard and as “As reported by Cointelegraph, Bitcoin long-term holders (LTH) - entities that hold a set amount of BTC without selling it for 155 days or more - continue to largely resist the temptation to part with coins”
SOURCES CONSULTED
Cointelegraph. Bitcoin dormant for 5 years or more awakens in new ‘distribution’. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
I really believe looking at the data that the bitcoin possessed right now, this is the right time to actually buy as much as bitcoin and hold it for the future as that is really necessary