Bitcoin is poised for a strong price increase in the long run. The short-term technical picture remains bearish as long as the coin stays below $9,300. The number of Bitcoin holders growing About 42% of all Bitcoins have not moved since March 2017, according to Nate Maddrey from CoinMetrics. The statistics provided by the expert implies that Bitcoin investors stick to hodl philosophy and prefer to accumulate the coins. As of March 1st, about 42% of all BTC has not been moved on-chain (i.e. transacted) for at least two years. The amount of BTC untouched in more than two years has not eclipsed 42% since July 2017. Notably, the number of hodlers was on the rise during 2019. Some experts believe that the data provided by CoinMetrics signals that Bitcoin is on the verge of a massive bullish trend. A similar trend in the second half of 2017 resulted in Bitcoin’s stellar growth towards $20,000. However, it should be noted that a significant amount of coins is lost forever as their owners lost access to their private keys. According to Chainalysis estimates, about 4 million BTC coins are lost forever. BTC/USD: Technical picture On a weekly chart, BTC/USD stays above SMA50, which is a positive signal for Bitcoin bulls. The price surpassed this technical level, in the beginning, go January and has been trading higher ever since, which means that the longer-term picture remains bullish so far. Once it is out of the way, the downside momentum is likely to gain traction with the next focus on $8,250 (23.6% Fibo retracement for the downside move from July 2019 high to December 2019 low). It is followed by psychological $8,000. On the upside, the initial bullish aim is $9,000. However, even stronger resistance comes at $9,300. This area is reinforced by SMA50 daily and 38.2% Fibo retracement for the above-said move. BTC/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next US: ADP Employment Change at +183K in February vs. +170K expected FX Street 2 years Bitcoin is poised for a strong price increase in the long run. The short-term technical picture remains bearish as long as the coin stays below $9,300. The number of Bitcoin holders growing About 42% of all Bitcoins have not moved since March 2017, according to Nate Maddrey from CoinMetrics. The statistics provided by the expert implies that Bitcoin investors stick to hodl philosophy and prefer to accumulate the coins. As of March 1st, about 42% of all BTC has not been moved on-chain (i.e. transacted) for at least two years. The amount of BTC untouched in more than two years has… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
