17% of the world's bitcoin reserves have not been moved for more than 7 years

17% of the world's bitcoin reserves have not been moved for more than 7 years

The Unfolded database announced yesterday that a high percentage of the world's bitcoins have not been traded for more than seven years. This data is extracted by the "HODL Wave" indicator, which is a practical tool in the analysis of chain data on the Glassnode website.

This indicator tracks the time between bitcoin transactions, giving an in-depth look at how long that bitcoin has been stored at an address before being moved across the network. The indicator is named after a popular post on the Bitcointalk forum that told bitcoin holders in 2013 to hodl their bitcoins and not sell them. .

The HODL Wave indicator shows that more than 3.3 million bitcoins have not been transferred on the network for more than 7 years. This amount of bitcoins is equal to 17.87% of the total bitcoins in circulation in the world and their value is estimated at the current price of bitcoins of about 160 billion dollars.

These bitcoins do not necessarily belong to whales. Large quantities of these bitcoins have been lost in recent years due to accidental deaths or password forgetfulness.

"Many of these wallets belong to people who bought or mined bitcoins at very low prices and then extracted them," said YIELD App CEO Tim Frost in a note. They are lost and do not have access to it. "Until 2013, many saw bitcoin as a monopoly currency and had no vision for the future and what bitcoin could become."

Last year, a report was published by the Chainalysis website that reported a slightly higher number of bitcoins lost in smaller timeframes. It reported that approximately 3.7 million bitcoins in the world (20% of circulating bitcoins) had not been traded for 5 years. The same report also noted that 3.5 million bitcoins worldwide are actively traded on the open market, while 11.4 million bitcoins are held as long-term investments in Chinese blockchain addresses.

However, Tim Frost believes that it is possible to provide access to these bitcoins to their owners. "These wallets are like hammers that can hit the market at any moment."

But this issue can also be traced. Glassnode has another indicator called Coin Days Destroyed that moves upwards when an old bitcoin is moved over the network.

As we can see in the chart above, in late 2018 and 2019, we see that the old currencies in the network have been transferred to the network for the first time and after a long time. We see such activity now and in 2021, but the level of these activities is almost the same and has not increased.

Rick Reader's special look at Bitcoin

Rick Reader's special look at Bitcoin

Asset management giant BlackRock has turned its attention to investing in Bitcoin!

According to Rick Rieder, chief investment officer at asset management giant BlackRock, the company has turned to investing in bitcoin as a replacement for value storage.

Reader commented on BlackRock's interest in an interview with CNBC's Squawk Box on Wednesday morning. He said the asset management giant had taken steps in the field of cryptography, but did not elaborate.

Reader said that people's interest in bitcoin is growing because people are looking for an alternative to store value. He added: "My impression is that this technology has evolved and the regulations in this area have improved to some extent, because some people consider it as part of their portfolio, a factor that causes prices to rise. ”

According to Reader, BlackRock has not yet made any offers on Bitcoin, but since it has a lot of money, allocating part of it to Ramzars "makes sense." However, he remained skeptical that anyone should invest a portion of their assets in Bitcoin.

"I do not consider a number to be allocated, as it depends on the rest of the portfolio," he said. "

As previously reported, given BlackRock's budget, monitoring records indicate that the company is about to buy Bitcoin.

Key points of buying and selling ounces of gold Tuesday, February 16

Key points of buying and selling ounces of gold Tuesday, February 16

Offer: sell below 1812.50 with a first profit tick of 1789.00 and a second profit tick of 1782.00
Alternative offer (in case of price trend change) When the price penetrates above 1812.50, the price first starts moving towards 1818.00 and 1827.00.

Support and resistance points
1827.00
1818.00
1812.50
————————
1789.00
1782.00
1771.75

What is the Dow Jones Index and what does it do?

What is the Dow Jones Index and what does it do?

The Dow Jones Industrial Average is an industry average of the US stock index, abbreviated DJI, and shows price fluctuations of 30 companies operating in the United States.

This index was founded by Charles Dow almost a century ago, and that is exactly why investors use this index to compare their performance in the stock market.
What companies does Dow Jones consist of?
Shares of well-known American brands operating in finance, oil and gas, public services, consumer goods, technology and telecommunications, and skin care form a weighted price index.

This means that the shares of higher value companies will have a greater impact on market value, and similarly, lower value shares will have less value on market value. In other words, a stock with a higher value and volume constitutes 70% of the market value.

It is worth noting that the stocks of companies such as Amazon, Facebook and Alphabet are not included in this index due to the high weight of their revenue streams.
Dow Jones Index Applications

    It is a factor for monitoring market conditions. Because this index, as one of the main indicators, creates a correct understanding of the stock market for investors.
    Reduces investment risk. In fact, by buying this index, you can experience a diverse and low-risk investment.
    It is a factor in monitoring the performance of the investment. For example, if the profit from your portfolio is consistently higher than Dow Jones, it indicates that you have made the optimal investment, and vice versa.
    The future trend of stocks determines mutual funds and ETFs. In fact, given the beta, it can be measured that the market value of a company's stock against Dow Jones will increase or decrease.