Bitcoin dinosaur awakes: HODLers move 200,000 BTC from 2013
Bitcoin price rises sharply in price and can record price gains. The picture shows a price curve and stacked Bitcoins.
Recent data from Unchained Capital an Crypto Trader show that old Bitcoin dinosaurs from 2013 are apparently using the current time to move a large part of their BTC. In this article we want to take a look at the so-called HODL Waves and understand what is actually behind this term.
Bitcoin stocks to move again between 2013 and 2015
Especially in the world of Bitcoin, the „buy and hold“ mentality is very strong. In the classic financial world, one speaks of an investment behaviour that is characterised by buying an A share and then holding it for a long period of time.
In the crypto world we call this phenomenon HODLen. It is not uncommon for investors to choose an investment horizon of several years and thus consider Bitcoin as a long-term investment.
A recent analysis by Unchained Capital now shows that Brund 200,000 BTC, which were inactive for 5 to 7 years, were moved in the current price rally.
Nearly 1% of the total supply of #bitcoin moved out of long-term storage (>1 year in the same address) during the price run-up from $13,700-$19,670 in November.
61.43% of the supply of bitcoin has not moved out of long-term storage (>1 year in the same address) during the price run-up from $13,700-$19,670 in November. #HODLwaves, h/t @glassnode https://t.co/by2nmlXQIJ pic.twitter.com/WPrserjaSN
– Unchained Capital (@unchainedcap) December 3, 2020
So, as the chart above shows, some investors have moved their „old“ Bitcoin. From the current perspective, the early investors were able to make enormous profits with BTC.
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Profit taking from long term investors
For example, the Bitcoin price was between USD 134 and 1150 in the period from 2013 to 2015. This means that those who invested in the crypto currency 7 years ago could now record profits of around 1500 up to almost 14,000%!
The following chart now shows the Bitcoin UTXO chart
If you have never heard of the term and are looking for a detailed explanation, we recommend the article on Bitcoin UTXO.
Due to the recent movements, the picture of the UTXO Age Distribution is shifting. Above all, this shows that some investors have probably not „lost“ their Bitcoin, but were deliberately waiting for a renewed price increase.
While some analysts still assumed in 2018/2019 that many Bitcoin would have had to be moved in 2017 with the all-time high at that time, we now see that investors were probably waiting for another bull run.