Long Term Hodlers Have Amassed Over 75% Of BTC…
“Hodl’ers form the last resort”…hahaha I resemble that!
Long-Term Bitcoin Holders Have Amassed Over 75% of BTC
“The gloomy market condition has failed to deter long-term Bitcoin holders who are currently in possession of more than 75% of all existing BTC.
As per an analyst at the crypto analytics platform CryptoQuant, this level was last seen in October 2015.
- The sentiment of long-term holders is important as they represent experienced market participants that have been through different phases of the market.
- The analyst explained that these entities have lower spending behavior statistically and hence are touted as the “hodl’ers form the last resort” while providing strong support for the flagship crypto-asset.
- Bitcoin is currently trapped in a bear market cycle, a breakout from which, at least in the near term, does not appear likely.
- CryptoQuant’s chart depicted that the coins are shifting from younger, less experienced market participants, to long-term holders.”