New Data Shows Bitcoin Accumulation is in Full Swing
Bullish signs are everywhere for Bitcoin March 1st as the largest cryptocurrency continues its record-breaking bear market cycle in 2019.Addresses Amassing Coins At 4K. Capping a fifth day of broad stability, the bitcoin price 0.0.
Was holding steady at around $3850 Friday, while data from traders suggested February ended the worst six-month performance for bitcoin ever recorded.
Contrasting the state of the network with 2015, the time of the previous bear cycle after price highs in December 2013, Diar noted twice as many addresses held amounts of bitcoin between $4000 and $40,000.
Despite the bubble burst, Bitcoin holdings in these addresses increased by 5% since Bitcoin's peak.
Delphi Digital co-founder Anil Lulla found more reasons for most bitcoin holders to be cheerful.
Lulla's comments were within the context of the Bitcoin block reward halving event, scheduled for May 2020.
As Bitcoinist reported, previous halvings have entailed increases in the bitcoin price by orders of magnitude.Source: https://bitcoinist.com/bitcoin-accumulation-new-data-swing/