The number of bitcoin-HODL’ers peaked ahead of the US presidential election

Statistics indicate that during the year 11.7 million of all mined bitcoins were inactive.

Wednesday began with a positive movement of most cryptocurrencies from the top 10 of the CoinMarketCap resource capitalization rating. Bitcoin is trading at $ 10,714. The daily growth of the asset was 0.05%. Result per week – plus 2.58% to the cost.

Data: CoinMarketCap

Against the background of the positive movement of BTC, the hashrate of the cryptocurrency continued its path to the local maximum set on September 19.

Bitcoin hashrate chart. Data: blockchain.com

Meanwhile, GlassNode analysts drew attention to the activity of HODL’ers – people who adhere to a long-term investment strategy. It turned out that over the past year 63.3% (11.7 million) of all mined BTC were inactive. This is an absolute record. In comparison with the indicators for the last 2 and 3 years, the number of HODL’ers, according to statistics, has increased significantly.

It is noteworthy that not all BTC from the indicated volume were motionless at the behest of their owners. Some bitcoins are lost. Accordingly, part of the cryptocurrency is inactive for one reason – there is no access to it.

Simultaneously, the number of registered bitcoin addresses with funds continues to grow.

Data: GlassNode

The growth in the number of HODL’ers and BTC holders occurred against the background of the preparation of the United States for the presidential elections. The event is scheduled for November 3rd. Members of the crypto community paid attention to the fact that four years ago – during the election of the current head of state – Donald Trump – bitcoin was much cheaper.

The Block analyst Frank Chaparro, in turn, noted that the current position of BTC, in his opinion, as never before, indicates the prospects for a positive movement in the cryptocurrency rate.

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