Author Topic: Japan's Dormant accounts waking up finally  (Read 5 times)

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Japan's Dormant accounts waking up finally
« on: August 01, 2020, 03:52:40 PM »

https://cointelegraph.com/news/japans-dormant-btc-trading-accounts-wake-up-as-bitcoin-price-rallies

If you guys do remember there was a survey conducted where the people holding Bitcoins for the long term said they won't actually sell their Bitcoins if the price never breaches 10k $ , they would rather die instead of selling.

Now with the recent rally of the price climbing up , the dormant accounts are waking up , especially in Japan.

According to the analysts , this specifically has the following reasons:
1) Price of Bitcoins breaking the resistance
2) Government paying stimulus around 930$ per household
3) Surge in the price of Gold
4) People wants to buy Bitcoins so they don't want to wait to make new accounts , therefore they are using their old accounts which were dormant since long
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How it can affect us ?

1) Price might be affected if these accounts starts trading
2) Since some Investors are moving from Gold to Bitcoins this might mean start of a golden era for cryptocurrencies

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According to the source the trading volume is up by 2*/3* times this week.