Disclaimer: This is not investing or trading advice.
According to data of dormant Bitcoin addresses, there are millions of BTC sitting in wallets for some long periods of time. This is understandable as many in the crypto community believe in the HODL principle. Also to remember, some dormant addresses will never move BTC as some of them are stuck there forever due to a loss of private keys to access them.
Souce: BitInfoCharts
The last time we seen large amounts of dormant addresses was back in 2016 leading to the block reward halving.
In the chart below, you can see the Unspent Transaction Outputs (UTXOs) from 2010-2019.
Source: HodlWave
This could indicate a bullish price movement as we approach the next block reward halving in May 2020.
Do you think we'll see another bull run this time around? Let me know in the comments below.
