Bitcoin experienced a bullish trend in 2022, which is reflected in the number of BTCs stored. The deposit and long-term storage capacity of Bitcoin set a new record in early February, as the holder predicted that the price of Bitcoin would return to the normal level before 2022

49% of long-term investment in Bitcoin

Based onAnalyze enterprise Glassnode, 49% of the total supply of Bitcoin has been stored in the same wallet for four years. At the time of writing, this is equivalent to more than 9.45 million Bitcoin or about 220 billion US dollars.

Glassnode further illustrates this trend with a chart, which shows that the last highest value occurred in the fourth quarter of 2020 and the beginning of 2021. The highest value will be completed in the bull market period of 2021, because with the increase of BTC price, the holders will gradually sell

After the use value of Bitcoin continued to decline, the index fell and remained unchanged for most of the year. This means that Bitcoin holders are determined to wait for the price rise and then transfer assets in the bear market

Extended reading:Improvement: Bitcoin will break through $24000 for the first time in 2023

However, since December, this trend has changed, and the continuous rise in the use value of Bitcoin has promoted a significant increase. At this stage, 49% of Bitcoin has not moved in three years, and investors have waited for opportunities, because BTC has encountered a new bullish cycle time

Big bull market index value of Bitcoin

In fact, investors have been unswervingly owning their own coins, which is also a bullish indicator of Bitcoin, indicating that people still have great confidence in leading digital currencies

Bitcoin is known as the most important sales market leader, and some organizations have this property on their balance sheets. It is also the currency of El Salvador and the Central African Republic. Several countries are trying to import digital currency into the local currency page

BTC is also used as a donation method in the ongoing Russian-Uzbekistan conflict. The latest bullish cycle time is likely to create more opportunities for the selection of BTC. Since the beginning of this year, Bitcoin has risen by about 38%, and recently hit the $23000 price mark for the first time since August 2022

Long-term investors are likely to have a higher level of profit when the price touches a new high again. Earlier in January, the profitability of Bitcoin addresses reached a new level, and 68% of the addresses are now profitable

The last time such a thing happened was in 2022. At that time, the price of BTC was about $40000, and it dropped sharply. Therefore, there is a trend that we may be bullish again in the near future

Extended reading:After the decline in 2022, the trading volume of Bitcoin derivatives market showed a bull trend

Even so, some people think that the price of BTC in the first quarter of this year will be consolidated before the rapid rise in the second half of the year. It will be interesting to see whether this is a temporary price increase or a bull market

Featured images from the Unsplash.com/data chart of TradeView and Glassnode.