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Glassnode: About 60% of Bitcoins Were Frozen For a Long Time

01 June 2020 17:32, UTC
Glassnode: About 60% of Bitcoins Were Frozen For a Long Time
By Anna Martynova

According to Glassnode, more than 60% of bitcoins have not been moving for more than a year. Market analysts report that a similar situation occurred in 2016 — a year before the bull market began in 2017. Thus, Bitcoin investors are again showing an optimistic view on the market.

Despite the catastrophic March fall of the crypto market, which almost halved the price of bitcoin, the largest cryptocurrency in terms of market capitalization has managed to reach a recovery position, and long-term holders were most likely not affected by the fall in prices.

In fact, the Hodler Net Position indicator remained positive during the crisis and rose to new highs. Glassnode also notes the following: while long-term investors held their investments, retail investors used low prices after the crash to invest further.

Image: Bloomchain



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