 | Something interesting happened today. The Bitcoin Coin Days Destroyed ( CDD ) has reached an all time low. What does this mean?Coin Days Destroyed is a measure of economic activity which gives more weight to coins that haven't been moved / spent for a long time. This is an important indicator as alternative to just looking at the total transaction volume. Summarized, Coins that are held in a cold storage as a long term store of value are considered economically important. It signals a notable change in long-term holder behavior. Example: UTXO ( Unspent Transaction Output ) for 1 BTC that is dormant for 100-days has accumulated 100 coin days. Low Indicator values occur when day-to-day dominates network traffic, older coins remain dormant & convinction to hold the asset is high. Usually a sign for a peak bear market. TL;DR : PEOPLE ARE NOT SELLING. More and more decide to leave their bitcoin on a cold wallet the last months and sit the current times out not willing or plan to move them at all. [link] [comments] |
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