Investors Accumulate Bitcoin Before Halving.

April 28, 2020

BitXmi

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Miner reward cuts soon. Halving supposedly to happen on May 12. Because of what, the bitcoin inflation rate will halve. Many analysts believe that a shortage of supply will affect a significant increase in the rate of bitcoin.

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According to the analytical resource Glassnode, more and more cryptocurrency investors are actively building up their positions in bitcoin.

It is noted that almost 43% of all BTCs that are in circulation have hardly moved out of wallets over the past few years.

Long Term Holders

Over the past year, this figure has grown by 10.4%. The drop in bitcoin prices had practically no effect on the position of long-term holders, even though in March there was one of the largest market collapses in history.

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Also, the change in the “net” position of the holders remained positive. Although in mid-March, bitcoin sharply dipped by more than 30%. This suggests that investors who invested in the long-term, not only continue to stick to their plans but also earned on cheaper Bitcoin, increasing their position.

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Change in a Strategy

Just a month after the March crash, or the long-term reached record highs. 2,037,503 BTC in just eight days.

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It means that:

  1. Traders who bought bitcoin during the March collapse hold on to their new positions;
  2. As the market recovered, changes occurred in a strategy of market participants. Medium and long-term investment strategies have again become favourable.

The number of investors owning from 100 bitcoins reached a record mark of 14,536 wallets. Gaining 4.3% compared to last year.

Despite the uncertainty in the cryptocurrency markets, statistics indicate an optimistic view of investors regarding the upcoming halving.

At the time of writing, BTC / USD is trading at $ 7723 on the BitXmi cryptocurrency exchange.

Read more news about the Bitcoin rate here…

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