Crypto money analysis company Flipside Krypto reported that the long-standing Bitcoin wallets are starting to move.
Bloomberg reported that the number of active Bitcoin wallets, many of which have been asleep for a long time, saw an uptrend, which could be a precursor to some major market movements.
Bloomberg bases its data and analysis report on the data of the Cripto currency analysis company Flipside Crypto, which invested in the Crypto currency venture capital company Digital Currency Group (DGC) in November and from the large crypto money exchange Coinbase.
According to Flipside, as of October 2018, many non-active Bitcoin owners, who had been inactive for a long time, were identified as those who did not transfer their Biotag for 6-30 months and started to transfer their coins. Thus, based on data from the previous month, the active wallets now hold 60 percent of the circulation of Bitcoin.
In general, active Bitcoin supply has been reported to increase by 40 percent since 2018. Eric Stone, head of data science at Flipside, said:
”This is definitely a big change. There’s more potential than usual for fizzling.“
Both 2015 and 2017, Bloomberg noted similar similar wallet movements before Bitcoin‘s huge historical price volatility. In 2017, crypto money rose to $ 20,000, the highest price of all time.
David Balter, CEO of Flipside, said that long-term Bitcoin holders, who were outdoors during the volatile markets in most of the past few years, are currently on active radar. Stating that this trend could continue, Stone said:
Un We have no reason to wait for a few more years to be stagnant. “