Prominent online analyst Willy Woo says millions of Bitcoins (BTC) have remained untouched in the past 10 years.
Woo talk to his one million Twitter followers that there are more than 60.75 Billion Dollars Bitcoin hasn’t moved since 2013.
“In 10 years, the current 2.6 million BTC has not moved.
Chainalysis estimates 3.7 million coins have been lost (2020 research).
Let’s see if this is supported in the next few years, and will grow to over 3.7 million coins by 2030.”
Online analyst Will Clemente also emphasized that the number of Bitcoins that have been inactive for more than 10 years is greater than the amount of BTC currently in exchanges.
Clemente said the number of people participating in the BTC network is increasing.
“During every downtrend, those who were superficial with BTC will leave but more and more users of the Bitcoin network stay. This is the signal.”
Analytics firm Santiment is also looking at the trend of BTC being withdrawn from crypto exchanges. According to Santiment, the supply of Bitcoin and Ethereum (ETH ) in cryptocurrency exchanges is decreasing at a rapid rate.
“Especially since September, coins are rapidly moving to self-custodial. This trend picked up after the crash of FTX. Regardless, with both BTC and ETH exchange supply at roughly five-year lows, future sell-offs should be limited.”
Bitcoin is predicted to rise to 56,000 USD
At the time of writing, Bitcoin is worth $23,216.
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