RATE Group | Bull Run Imminent? Hodl Waves Chart Shows 60% of Bitcoin Hasn’t Moved in a Year
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Bull Run Imminent? Hodl Waves Chart Shows 60% of Bitcoin Hasn’t Moved in a Year

27 May Bull Run Imminent? Hodl Waves Chart Shows 60% of Bitcoin Hasn’t Moved in a Year

Posted at 13:48h in Bitcoin News by

Bull Run Imminent? Hodl Waves Chart Shows 60% of Bitcoin Hasn't Moved in a Year

According to the creator of the analytical bitcoin data web portal, Look Into Bitcoin, a chart often referred to as ‘Hodl Waves’ shows a bull run could be imminent. The web portal’s analyst Phillip Swift recently tweeted that 60% of all the bitcoin in circulation hasn’t moved in twelve months. The last time this trend took place was in 2016, months before the start of the 2017 crypto bull run.

60% of Bitcoin’s Supply Hasn’t Moved in Over a Year

Last March, news.Bitcoin.com reported on a research report authored by Coin Metrics analyst Jacob Franek, which said as of March 1, 2020, roughly 42% of all BTC has not moved onchain in more than two years. However, since then on March 12, 2020, otherwise known as ‘Black Thursday,’ the price per BTC dropped to $3,600 per coin. Using today’s exchange rates, BTC has risen 154% since Black Thursday and is currently trading above $9,100 per unit. The study from Coin Metrics highlighted that “Hodl Waves” have grown larger…

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