35% of bitcoins already mined may be lost forever

The price of Bitcoin returned to approaching US$ 50 thousand and an important metric to show an increase in prices turned out to be that of lost coins on the network.

It is worth noting that the month of July has already shown a good recovery in Bitcoin prices in the market, after a few months of significant decline. But in the month of August, in its first 21 days, 17 closed with a price above US$ 40 thousand.

This shows that the bull market has returned, with the rise once again being noticed by traders who are showing optimism in their purchases.

Bitcoin price approaches US$ 50,000

Touted as an important store of value for large investors, Bitcoin has an interesting move in this direction. With the rise in interest rates around the world, there is still fear that falls could happen in this market, but in the short term, the market reflects an optimism after a few months of declines.

This Saturday (21), for example, the Bitcoin quote approached US$ 50 thousand in several brokers, reaching a maximum of US$ 49,700.00 in several platforms.

In Brazil, with the rise of the dollar in the week (US$ 1.00 = R$ 5.38), the third in a row for the US currency in the country, the price of Bitcoin ended up approaching R$ 270 thousand at the end of week.

That quote shows that Bitcoin valued R$ 100,000 in Brazil in the last 30 days, as each coin was worth R$ 170 thousand on July 21st.

With Bitcoin high, lost or idle coins draw attention

But if the Bitcoin market is excited about the return of the king of cryptocurrencies to important price levels, what stands out is the amount of lost or idle coins, which rises.

According to data from the company Glassnode, observed by analyst Wu Blockchain on Saturday, 7 million Bitcoin are idle or lost. This value represents almost 34% of the coins created to date.

“According to data from glassnode, the number of long-lived BTC retained or lost reached 7,131,084, representing about 33.96% of the total, which is the highest point in the last five months. This part of the Token can be considered as out of circulation.”

Data shows amount of Bitcoins lost or saved for a long time
Data shows amount of Bitcoins lost or saved for a long time/Twitter

With a greater demand for Bitcoin in the market, but fewer currencies offered, the tendency is for the price to appreciate, a sign that could be good for those who expect a continuous upward movement in the coming months.