RATE Group | Dormant Bitcoin Network Implies “Dramatic Shift” Incoming, But in Which Direction?
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Dormant Bitcoin Network Implies “Dramatic Shift” Incoming, But in Which Direction?

06 Dec Dormant Bitcoin Network Implies “Dramatic Shift” Incoming, But in Which Direction?

Posted at 23:57h in Bitcoin News by

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If you’ve followed the Bitcoin and cryptocurrency space at all over the past few years, you likely know of the term “HODL,” A misspelling of the word “hold,” HODL is a long-time meme used by industry investors who believe that BTC will appreciate over time.

According to a recent report from the Wall Street Journal, HODL is more than a meme, it’s a reality.

The outlet reported Friday that according to cryptocurrency analytics firm Flipside Crypto, 14% of the 18 million BTC  outstanding were actively traded during the last week of November, a statistic down 50% from October 2018.

Also, the number of Bitcoin transactions taking place every day has fallen to “around 307,000 transactions, according to data from Blockchain.com. That is down from 370,000 in the spring.”

The trend of market inactivity these metrics shows has been corroborated by top blockchain analytics site BitInfo Charts, which recently observed that 11.58 million Bitcoin — more than 50% of all of the…

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