According to data provided by crypto analytics firm Glassnode, it is stated that a signal that occurred when Bitcoin (BTC) gained 4500% earnings in 2016 is returned.
In the published report, it is stated that investors holding BTC in their hands have reached new heights and that the leading crypto money will experience a long-term rise. Also in the same report, it is underlined that more than 61% of BTC has not moved in the past 12 months and this metric is the all-time high. The company also stated that approximately 44% of Bitcoin has been inactive for more than two years.
These numbers, announced by Glassnode, show that Bitcoin investors have been on hold for a long time. When the same behavior was last observed, on January 1, 2016, Bitcoin rose from the $ 438.88 level to the all-time high of $ 20,089. At that time, don’t move for at least a year. The percentage of Bitcoin was around 60%.
Long-term grips, as we have seen in the past, often trigger the bull market. The vast majority of investors prefer to keep it in their hands, rather than selling BTC at the current price level. Naturally, this situation directly affects the price of Bitcoin.
Bitcoin (BTC) is trading at $ 9,173 as of writing.