Most BTC investors are presently profiting from their BTC investment, as Glassnote’s (a crypto analytic data firm) Twitter’s feed shows that about 77% BTC supply are in a state of profit still. However, many investors have chosen not to cash out, but instead, prefer to hold.
BTC supply not moved in over a year: 62%
BTC supply in a state of profit: 77%
Read: Many investors could be profitably cashing out, but instead choose to hodl.
How can you not be bullish on #Bitcoin?
Chart: https://t.co/Ym0A58ssc5 https://t.co/pQZeZJvuuM pic.twitter.com/3D78rb0Cb6
— Rafael Schultze-Kraft (@n3ocortex) July 13, 2020
Quick fact: It should be noted that BTC is not really anonymous because all BTC transactions are kept permanently and publicly on the blockchain or ledger system, so it’s very easy for anyone to see the transactions and balance of any BTC address.
READ ALSO: Crypto: Elrond gives investtors 1,735.54% since its inception
A couple of weeks ago, Chainalysis researchers explained in detail that as the rush for BTCs keeps increasing, the price will most definitely be affected. The report said:
“With more people looking to trade BTCs, which is only becoming scarcer following the recent halving, bitcoin moving from the investment bucket into the trading bucket could become a crucial source of liquidity. However, one would expect this will only happen if bitcoin’s price rises to a level at which long-term investors are willing to sell.”
READ MORE: ChainLink’s digital coin skyrockets 388% in 130 days, still soaring
The report claims that the Hodler net position change, which provides an aggregate of long-term wallet holder behaviour, has been positive on 154 of the first 170 days of 2020. Glassnode data shows that Hodlers have made a net increase of 233,000 BTC to their positions since the start of the year.
Meanwhile, BTC difficulty has hit a new all-time-high of 17,345,948,872,516 (+9.89%).
Explore useful research data from Nairametrics on Nairalytics
Bitcoin difficulty hits a new all-time-high. New difficulty: 17,345,948,872,516 (+9.89%)
data: @glassnode pic.twitter.com/0HnrKuHpX9
— unfolded. (@cryptounfolded) July 13, 2020
