The amount of Bitcoin lost or held since the beginning of the last bullish phase has reached a new low.
The amount of Bitcoin lost or held dwindled to 7,252,161,786 Bitcoins, according to Glassnode.
This amount is estimated at 209 billion dollars at today's price.
Since the start of the bullish phase of Bitcoin in the second half of this year, the movement of Bitcoin held currencies has changed, as it was increasing until it reached a value of $ 217 billion in mid-October.
But only in the past month and a half did the data change and more than $ 7 billion worth of Bitcoin was liquidated.
Lost or held Bitcoin refers to those digital currencies that have not moved for a long period of time, and are held by long-term investors known as “Hodled”.
According to Glassnode data, the amount of lost or held Bitcoin has slowly decreased over the past eight months.
This is due to the current bull market for bitcoin and the large numbers of long-term investors who are starting to move their bitcoins and are looking to sell them at higher prices.
In the past eight months, the price of Bitcoin has increased by 227%, as the price of Bitcoin at the end of April was estimated at $ 8,799, according to CoinMarketCap data, to rise to a new record high above the level of $ 29,000.
Of the total Bitcoin supply, about 20% is lost forever, meaning about $ 100 billion worth.
This is because people may lose their private keys, hard drives be destroyed or die, and no one can recover their cryptocurrency.
But as Glassnode's data shows, much of Bitcoin is showing its motion again.
Bitcoins that have not been in circulation for more than 10 years are referred to as the Satoshi era Bitcoin, because they include coins that were mined when the creator of Bitcoin "Satoshi Nakamoto" was still communicating with the world of crypto.
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