Only one of the four bitcoins (not taking into account the newly-named ones) moved between addresses and was stored on them for the last six months. This writes Bloomberg, citing data CoinMetrics.
Some CM data in @business today! https://t.co/3yfE1nZVOj
– SpookMetrics.io (@coinmetrics) October 31, 2018
The last time Bitcoin reached such low levels of activity in 2015. At the same time, over the last year about 50% of bitcoins moved, and at the end of 2017 this figure was 60%.
“This suggests that bitcoin is still in recession, ” said CoinMetrics co-founder Nick Carter.
Analysts also noted that despite the decrease in daily trading volume by almost 80% compared with the January peak, owners of about $ 4 billion in bitcoins are changing every day.
As stated by the representative of the investment company DA Davidson & Co Gil Luria, this indicates the absence of problems with liquidity.
“It also means that an investor can liquidate his entire position in one trading day,” he said.
The study also showed that 40% of all bitcoins are not traded on the market, and from 25 to 35% of the coins are active during the bull rally. In periods of falling prices liquidated 30% of bitcoins, analysts added.
A recent study by CoinMetrics states that the indicators of the first cryptocurrency are not subject to seasonality.
Meanwhile, a study conducted by Diar shows that more than 55% of all bitcoins are on wallets with a balance over 200 BTC (almost $ 1.3 million).
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