The Intelligence Company Explained: The Cause of the Rise in Bitcoin
Market intelligence company Flipside Crypto claimed that the rise in the crypto money market was triggered by the resumption of inactive wallets.
The rise in the crypto money market is not yet clear, but Flipside Crypto analysts attributed this rise to the re-awakening of big Bitcoin wallets.
According to the market intelligence company Flipside Crypto’s report, there has been a huge increase in Bitcoin and altcoin wallet activities over the past two weeks. This increase can also be considered as a sign of the re-adoption of crypto coins.
Approximately 50% of circulating Bitcoins were held in inactive wallets for more than a month. Flipside Crypto said that this rate has dropped to 10% since March 15, and that there has been a big increase in wallet activities over the past few weeks. Eric Stone, the founder of Flipside Crypto, said:
Good news for crypto money advocates. There are now more people thinking about buying Bitcoin.
Stone also emphasized that the increase in wallet activities and the activity in the crypto money market should not be directly related to crypto-money whales. Instead, Stone stated that the movement in digital wallets should be perceived as the awakening of small investors. Crypto money investors were probably interested in crypto coins after the long and sedentary crypto winter of 2018.
Stones after a quarter of about 15 months after the rise in the re-emergence of the whales expressing the absence of a large share of the whale of the great fall of November 2018 as the perpetrator of the crypto para whales showed. As it is to be recalled, in November last year, Bitcoin suffered a loss of about 40%.