Here's hoarding inversely correlated to velocity and purchasing power: https://bitinfocharts.com/comparison/top100cap-sentinusd-btc.html#log
Looks to me that the trend reversals are happening in the Top100 first(after the initial distribution). If it's true that would mean velocity causes purchasing power.
The opposite is true, velocity (all other things being equal) reduces the purchasing power (price per BCH) and total market cap.
