Bitcoin Awakens! $370B Dormant Units Ready for Bulls

• The value of Bitcoin has gone up significantly since the end of 2022, with a 50% increase in price.
• Many units of the world’s number one digital currency have gone dormant over the past six months, amounting to $370 billion.
• Traders are focusing on long-term gains rather than short-term ones, possibly due to fears about the market’s volatility.

Bitcoin Price Increases

The world’s primary form of crypto saw a new all-time high in November 2021 when it hit $68,000 per unit. However, following this peak, it entered a 12-month bear period in which it lost more than 70 percent of its overall value by the end of 2022. But 2023 has been a bit different as bitcoin is up nearly 50 percent since then and recently struck the $25K mark.

Much Bitcoin has Been Dormant

It appears that many bitcoin units have „gone to sleep“ over the past six months; they haven’t taken part in transactions or changed wallets and have remained perfectly still. As much as $370 billion in bitcoin has remained dormant during this time. This could be due to traders focusing on long-term gains rather than short-term ones due to fears about market volatility.

Long-Term Investment Strategies

Miguel Morel – CEO of Arkham Intelligence – explained that this may be because traders are looking to focus on long-term gains rather than short-term ones due to fears about market volatility. He believes this is less about fear and more about investors wanting positive returns over time rather than quickly making money from trading alone.

Analysis from Experts

Experts are keeping an eye on the market and trying to ensure that this new bull run is not a fluke. They believe that if people can maintain their confidence, then we should see further increases in value for some time yet as people continue investing for the long haul instead of just looking for fast profits in volatile markets like we saw last year.

Conclusion

It looks like many investors are taking a more cautious approach when it comes to trading cryptocurrency these days; they’re monitoring the market closely and investing for long term gains instead of jumping into risky trading schemes hoping for quick returns. If this trend continues then we should see further increases in Bitcoin’s price throughout 2023 and beyond!