Despite Bitcoin dropping 21% from its all-time high, the majority of Bitcoin held in wallets hasn’t been sold or moved for the last six months.
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The latest onchain report from the analytics firm Glassnode highlights a resurgence in the holding (referred to as ‘HODLing’ in the report) behavior among bitcoin market participants, particularly long-term holders, despite the ongoing market volatility. Onchain data reveals that, following months of significant distribution pressure, the trend is now shifting back toward accumulation. Report Shows […]
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BTC supply dynamics show all-time high percentage ownership by long-term holders, and Bitcoin investors should “do the math” as a result, analysis says.
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HODLING. When investors purchase cryptocurrency with the intent of deriving long-term price appreciation, the objective is to incrementally increase BTC holdings over time. The thinking behind this methodology is rooted in the demand/supply function. The supply of Bitcoin is limited to 21 million BTC, and there are currently 18,163,812 Bitcoins in circulation, with 86.49% of Bitcoins already issued. By deduction, steady demand will invariably lead to higher prices when supply is limited. HODLING is one technique used by adoptees to engage in the crypto market. It assumes a linear progression of the pricing mechanism. The expectation is that long-term appreciation
The post HODL Bitcoin or Trade Bitcoin – Crypto Adoptees Reveal Preferences appeared first on The Merkle Hash.
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Cryptocurrency is the main source of income for 12% of Russian speaking crypto users, according to a new survey. More than 90% of the respondents say they want to use digital coins as a means of payment, and a quarter of those interviewed are already doing that. 40% of the participants view cryptos like bitcoin […]
The post Cryptocurrency Is the Main Income for 12% of Russian Crypto Users appeared first on Bitcoin News.
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