{"id":127045,"date":"2021-05-31T17:13:06","date_gmt":"2021-05-31T17:13:06","guid":{"rendered":"https:\/\/precoinnews.com\/?p=127045"},"modified":"2021-05-31T17:13:06","modified_gmt":"2021-05-31T17:13:06","slug":"bitcoin-hodlers-add-8-billion","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-hodlers-add-8-billion\/","title":{"rendered":"Bitcoin Hodlers Add $8 Billion"},"content":{"rendered":"
Long term bitcoiners have been buying the dip during much of this month according to blockchain data analytics as pictured above.<\/p>\n
Some 221,598 bitcoins have been accumulated recently, worth more than $8 billion at the current price.<\/p>\n
At the same time the sum of short term holders has fallen by 256,255 bitcoin, in part because some of it has become long term holdings according to data from Glassnode.<\/p>\n
So suggesting a lot of the recent price action may be due to speculation, with traders trying to pick tops and bottoms.<\/p>\n
Much of the rest may have accumulated with a longer time-frame in view as the shakeout and correction might slowly change sentiment towards the longer term direction.<\/p>\n