Find out how much Bitcoin is lost or held since the beginning of the last bullish phase
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Answer Find out how much Bitcoin is lost or held since the beginning of the last bullish phase
The amount of bitcoin lost or held since the beginning of the last bullish phase reached a new low.
The amount of bitcoin lost or retained has diminished to 7,252,161,786 bitcoins, according to the Glassnode website.
📉 # bitcoin BTC dollars Coins accumulated or lost just reached an 8-month low of 7,252,161.786 BTC
The previous 8-month low was observed at 7,252,221.072 BTC on December 30, 2020
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This amount is estimated at about $209 billion at today’s price.
Since the start of the Bitcoin bullish phase in the second half of this year, the movement of Bitcoin held has changed as it was increasing until it reached a value of $217 billion in mid-October.
But in the past month and a half alone, the data has changed and more than $7 billion worth of Bitcoin has been liquidated.
“Hodled” Bitcoin refers to those digital currencies that have not moved for a long period of time, and are held by long-term investors known as “hodlers.”
According to Glassnode data, the amount of bitcoin lost or held has slowly decreased over the past eight months.
This is due to the current bitcoin bull market and the large numbers of long-term investors who are moving their bitcoins and looking to sell them at high prices.
In the past eight months, the price of bitcoin has risen 227%, with the price of bitcoin at the end of April estimated at $8,799, according to CoinMarketCap data, hitting a new record high above $29,000.
Of the total Bitcoin supply, about 20% is lost forever, or about $100 billion in value.
Read:Bitcoin price drops to $35,000 and liquidates $700 million
This is because people can lose their private keys, hard drives get corrupted or die, and no one can recover their cryptocurrency.
But as the Glassnode data shows, a lot of Bitcoin is showing its movement again.
Bitcoins that have been out of circulation for more than 10 years are referred to as Satoshi-era Bitcoin, because they include coins that were mined when Bitcoin creator Satoshi Nakamoto was still communicating with the crypto world.
Read also:
2020 Numbers and Stations: Bitcoin’s Journey from $3,800 to Nearly $30,000
VanEck files its Bitcoin ETF file with the SEC
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