“HODLing” refers to holding on to cryptocurrencies regardless of the market price and there are those who put a long-term future date to get out and move their coins.

According to Digital Assets Data, about 10.7 million bitcoins have not been transferred in more than 12 months.

Given that the total number of bitcoins currently in circulation is estimated at 18.14 million, this means that about 60% of bitcoins have remained idle.

Only 40% of them participated in the price action seen in 2019.

The percentage of bitcoin that has been dormant for more than a year is at an all-time high.

Kadan Stadelmann, chief technology officer of the Komodo platform, said: to source:

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The sheer volume of immovable Bitcoin is definitely a sign of the evolution of the HODLers community

The top-to-market and oldest cryptocurrency has seen big swings last year, rising from $3,693 to $13,879 in just the first six months.

to fall to $7,179 by mid-December.

Bitcoin has doubled in the past year despite the brutal selloff in the second halving.

Despite this, a large number of bitcoins remained inactive, probably because investors are anticipating a significant price hike after the mining reward halving, expected in May.

This quadrennial process cuts base bonuses in half in order to keep inflation in check.

However, if the market does not live up to high expectations, some selling could be seen, Stadelman said.

In this case, the total of the dormant Bitcoin will definitely go down.

Underwater HODLers:

Another strong reason for the increasing number of bitcoins falling asleep is that a large portion of “HODLers” are holding on to their investments because they bought at prime time.

Kevin Kaltenbacher, a spokesperson for Digital Assets Data, said:

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Many investors are still underwater because they bought bitcoin at high prices in 2017 and 2018.

It was noted that many investors entered the year 2019 when the price of bitcoin was 13,879 dollars, which means that they are hanging on what they have waiting for it to rise above the purchase price or at least close to it to recover their capital.

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