Cryptocurrency

13/01/19 08:00 UTC-4

Analysts say that the resumption of inactive Bitcoin wallets may lead to higher prices

According to Bloomberg, a financial information company, the number of active Bitcoin (BTC) wallets, many of which were inactive for a long time, has increased dramatically.

Bloomberg bases its report on data and analysis from "Flipside Crypto" crypto-analytical startup, which was supported by Coinbase, a large crypto-exchange company and Digital Currency Group (DCG), a cryptocurrency capital firm, back in November.

According to Flipside, as of October 2018, many long-inactive bitcoin wallets, which had not transferred their savings for six to thirty months, began to transfer their coins, resulting in wallets becoming active and currently there are about 60 percent of the coin offers.

In general, the offer of active Bitcoins has increased by 40 percent since the summer of 2018. Eric Stone, head of data research at Flipside, commented: "This is definitely a big step. The potential for price fluctuations has become greater than usual."

 

Purse swings

As noted by Bloomberg, such fluctuations of the wallet preceded the main historical price volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details
of Bitcoin in 2015, and in 2017 - in the last year, the coin soared to a historical price high of $ 20,000.

Experts suggest that it is the resumption of inactive Bitcoin wallets that can lead to price increases, and subsequently change the critical situation on the market.

Editor: Yuliya Soroka

See also: "China has signed a bill to regulate cryptocurrency"

#analytics #Bitcoin #wallets #Bitcoingrowth

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