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The Bitcoin blockchain is open and transparent. Anyone can view the transaction history and balance of the account. When an account does not conduct any transactions for a long time, it is considered a sleeping account. Some Bitcoin sleeping accounts may have a large number of Bitcoin, when the Bitcoin in the sleeping account begins to be transferred, it may increase the supply on the market. This is why the Bitcoin sleeping account has attracted the attention of investors in the currency circle. The Bitcoin sleeping account can have an impact on the market. What means? Below, the editor of the currency circle will explain Bitcoin sleeping accounts in a popular way to investors.

## What does Bitcoin Sleeping Account mean?

Bitcoin sleeping accounts are dormant addresses, which refer to accounts that are held for a long time and are not moved or transferred. The Bitcoin balances in these accounts have remained unchanged and no transaction activity has occurred. Bitcoin transactions are confirmed and recorded through transaction records on the blockchain. When a transaction occurs in an account, a transaction is generated. Recorded and broadcast to the entire network, other nodes will verify and confirm the validity of this transaction and add it to the blockchain's transaction history.

If an account has not seen any trading activity for a long time, it is considered a dormant account. This may be due to the owner of the account forgetting or losing the private key, or choosing to no longer use the account for other reasons, either In either case, the Bitcoins remain immobile in these accounts and cannot be transferred or used until the owner of the account activates or trades the account again.

The Bitcoin balance in the sleeping account has remained unchanged and does not participate in market transactions. This has led to a reduction in the number of Bitcoins available for circulation in the market, which may have an impact on the supply and demand balance. If the holder decides to wake up the sleeping account and transfer its funds Transferred to the market, this could lead to an increase in Bitcoin supply, which would have an impact on the price.

The price of Bitcoin is usually affected by market supply and demand and investor sentiment. The existence of sleeping accounts may lead to a certain degree of supply pressure, because the holders of these accounts choose to transfer funds at a certain point in time or wake up the account which may increase selling. pressure, which may exert some downward pressure on market prices.

## What is the reason for the occurrence of Bitcoin sleeping accounts?

The reasons for a Bitcoin dormant account may be that the user has lost his private key, forgotten the existence of the account, or voluntarily abandoned the account. The following are some common reasons that may cause a Bitcoin account to remain dormant for a long time:

1. Lost private key

The security of Bitcoin is based on users properly keeping their private keys. If a Bitcoin holder loses their private keys or loses access to the wallet where they are stored, they will not be able to use their account and conduct transactions again.

2. Forgot that the account exists

Some people may be involved in Bitcoin in the early days, but due to the passage of time or other reasons, they may forget that they have a Bitcoin account.

3. Willingness to give up

Someone may have held a Bitcoin account in the past but chose not to use or participate in the Bitcoin market for various reasons, leaving the account dormant.

4. Inheritance or inheritance issues

When Bitcoin holders pass away, if they do not leave a proper will or instructions, or if the heirs are unaware or unaware of the existence of the Bitcoin account, the accounts may remain dormant for a long time.

5.Safety considerations

Some Bitcoin holders may actively choose to store their Bitcoins in cold wallets (offline wallets) for added security. These cold wallets may be placed in secure storage media and may not be activated or connected to the network for a period of time.

All the above content is the complete answer of the editor of the currency circle to the question about what is the meaning of Bitcoin sleeping account. Awakening sleeping accounts and reintroducing funds to the market may increase trading activity and market liquidity, but cleaning up Bitcoin sleeping accounts is not an easy to implement or generally accepted measure. Control of Bitcoin funds lies with the private key holder In this case, cleaning up a dormant account involves violating the control rights of the holder of the private key. If the holder of a dormant account wants to reuse the account, he first needs to find and recover the private key. The private key is the key to access and control Bitcoin funds. , you can try to recall or retrieve the private key, or restore access according to the guidelines of the wallet or platform you are using.