Study: Dormant Bitcoin”whales” are active
Home News study: Dormant Bitcoin”whales” are active
Marcus Misiak –
As the crypto-analysis-company-Flipside Crypto has found out, were addresses in the last few weeks and months, BTC-active, for over six months to almost two and a half years. According to the survey, currently 60 percent of the in circulation Bitcoin of Wallets to be held in the last month. This could point to how, in 2015 and 2017, to future, greater price fluctuations, as reported by Bloomberg.
The Bitcoin price moves currently close to the 3,600 dollar mark and has, in recent weeks, a higher volatility, as well as trading volume. As Flipside Crypto reported, this is due in October 2018 to a large number of Bitcoin holders who had not touched their Bitcoins between six months and more than 2-1/2 years, and now their Bitcoin move again. The Trend continues since the beginning of the new year.
It is believed that about 1,000 BTC address, around 85% of all existing Bitcoins. These “whales” who have Bitcoin, worth millions of dollars, in 2018 rather inactive. The current Wake up this dormant whales, however, could affect prices in both directions, by either fear or hope and Faith among the investors, depending on whether whales buy or sell.
Eric Stone, Flipside Crypto’s head of research said:
It is definitely a big change. There is more potential than usual for price fluctuations.
He also added that there are now 40% more active BTC than in the summer of 2017. The number of inactive accounts has been halved, and there was a sudden increase in the number of accounts that have participated in BTC transactions. Similar Wallet was preceded by activities of large price fluctuations in the years 2015 and 2017. Two years ago, the upward trend indicated by the increase, which brought the price of the coin against the end of the year to a record high of almost US $ 20,000.
As Stone pointed out, there is no guarantee that the activities have an impact this time a positive impact on the BTC prices.
The fact that these Wallet addresses were recently active, leads us to believe that they could soon be active again. In other words: We have no reason to believe that they will stagnate for another 2+ years.
It depends on so everything comes down to whether the holder to buy or sell, and how the Community and the Bitcoin investors react to market activities. Whales selling BTC, could be catastrophic, while Wal-purchases, the demand and the prices could increase. If the Bitcoin are whales a buyer or a seller, therefore, remains to be seen.