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85% of Bitcoin Has Not Moved For 3 Months — Is Price Surge in Sight?

Published 10/07/2021, 03:25 AM
Updated 10/07/2021, 03:30 AM
© Reuters.  85% of Bitcoin Has Not Moved For 3 Months — Is Price Surge in Sight?

  • Pompliano tweeted that about 85% of BTC has not moved in the last 90 days.
  • These holders can greatly affect the overall price of BTC.
  • For Pompliano, it is ‘insane’ and also a good move for the BTC community.

At the moment, Bitcoin price is continually increasing. Reports say that it’s even nearing the $55k level. Moreover, Anthony Pompliano’s recent tweet about holders holding 85% of BTC in circulation might have been the reason for this.

According to Pompliano, as mentioned in his tweet above, about 85% of BTC has not moved. This means diamond hands or holders aren’t trading or selling their BTC at this point. For Pompliano, it is ‘insane’ because this also indicates that people are taking Bitcoin more seriously than ever before.

Furthermore, this significant percentile in BTC’s circulating supply can greatly affect its overall price positively. Meaning, if holders don’t sell or trade, then this could make BTC’s price shoot up immensely. With having no shorters, then the BTC community can expect a price surge relatively.

The crypto Twitter (NYSE:TWTR) community also reacted positively on the matter. Some agreed that it is an interesting phenomenon while some concluded that BTC right now seems bullish because of these holders.

At the time of writing, BTC showed over a 6.13% increase in the last 24 hours. Right now, BTC trades at $54,768.44. Based on this current price surge, analysts believe that BTC will continue to soar to the moon. Crypto enthusiasts are more confident in BTC, and with how it’s performing right now, we could see why.

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