16 Dec HODLers Still Confident; Can Bitcoin Price Recover in 2020?
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Crypto Investors Hold Strong
According to cryptocurrency analytics firm Glassnode, the Bitcoin unrealized transaction output metrics suggest that “investors are staying put despite being at a loss,” with there being fewer transactions since the $14,000 peak seen in June.
1/ UTXO metrics suggest that investors are staying put despite being at a loss.
After #BTC‘s local top in June, fewer transactions require less UTXOs to be created.
That in combination with the declining price, caused the number of UTXOs in a loss to remain at ATH since weeks. pic.twitter.com/nGctzxaYl9
— glassnode (@glassnode) December 15, 2019
Glassnode’s data has been corroborated by BitInfo Charts, which recently observed that 11.58 million Bitcoin — more than 50% of all of the cryptocurrency in circulation, which is valued at over $70 billion as of the time of writing this — has not moved in over a year. This also means that less than 6.8 million BTC has changed…
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