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Bitcoin Investors Are Holding A Strong Belief About Upcoming Price Rally - Survey.
2021-11-19 | Mike Hallen
BTC/USD 1 Day Price Chart: Source - Coinmarketcap.com
Should You Sell Your Bitcoin In 2o21 Bull Run? Those who entered the market or added to their positions in or after November 2020 are unwilling to sell, despite significant gains and similarly strong declines in 2021. The supply held by the six-to-12-month "hodlers" has surged, according to Hodl Waves, which measures the age distribution of unspent transaction outputs (UTXO). At the same time, coins kept for more than a year have only marginally dropped, indicating that only minor selling has occurred and that, with the exception of the six-to-12-month category, investors' resolve has remained firm. Even as BTC prices approach all-time highs, the data support the hypothesis that few BTC owners want to sell at present rates. Bull Market "has a long way to go" Meanwhile, new data on "older" BTC suggests that Bitcoin's oldest holders will continue to remain cautious. Dormancy flow – Bitcoin's market value divided by yearly dormancy — remains low around BTC/USD all-time highs, as on-chain expert William Clemente pointed out this week. Clemente said that high dormancy shows that earlier coins have been consumed. In Twitter comments on Wednesday, he noted, "Seeing dormancy flow now so low suggests older coins remain largely dormant."
