Analysts of Ark Invest noted that hodlers have been actively buying bitcoins lately. They benefited from the collapse of the BTC price this spring and summer. As a result, investors managed to accumulate a record amount of cryptocurrency. Nowadays, about 13 million coins have been fixed on the accounts of hodlers. This is at least 70% of the total supply of bitcoin.

Hodlers are usually called those who hold and do not sell cryptocurrency, regardless of the market situation. This year, the number of such investors grew by 2%.

The record volume of BTC, which is in the wallets of holders, affects the supply of bitcoin on exchanges negatively.

Also, Ark Invest claims that the coin is in a state of oversold. This means that in order to stabilize the situation, buyers must return to the market. Thus, it will be possible to make the growth of BTC smooth and without the influence of negative factors.

The founder of Ark Invest, Cathie Wood, gives her assessment of the development of bitcoin and predicts that the price will reach $500,000 in 5 years.