Long Term Hodlers Did Not Sell Amid The Crash
People have learned well…new Coinbase research shows long-term hodlers DID NOT sell their Bitcoin during the recent drops/crash/whathaveyou……
Long-Term Bitcoin Holders Did Not Sell Amid the Market Crash: Coinbase Research
True Believers Are Holding
“Titled “The Elusive Bottom,” the report looked into the overall market condition in June as the primary cryptocurrency revealed signs that it was near the bottom. According to on-chain data, holders who had held bitcoin for more than six months still accounted for 77% of the 21 million bitcoins ever available to be mined, despite a slight drop from 80% recorded at the beginning of the year.
It demonstrated a relative strength of the asset as the ownership percentage by long-term holders exceeded the 60% level at the peak of the previous cycle in December 2017. The report viewed such a phenomenon as a positive indicator of true believers less likely to deepen the selling pressure during turbulent periods.”
