Bitcoin News

Bitcoin Investors Are Holding A Strong Belief About Upcoming Price Rally – Survey.

According to a recent research survey report, Bitcoin (BTC) investors who purchased at all-time highs in 2017 have yet to sell. It may be tempting to sell with 3x gains, but last November’s purchasers are sticking to their guns and continuing to hodl.”

According to the Hodl Waves statistic, coins that haven’t moved in the recent six to twelve months currently account for the majority of BTC supply.

btc

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.”

Leave a Comment

Your email address will not be published.