I followed that guide before. Back in the 2017 and 2021 peaks and I noticed that if you relied on those graphs you would of sold way too early.
Most likely if we hit ATH those graphs will start to reverse but price can still keep going up. So you can’t really use that as a guide. It’s an interesting observation but not a good technical analysis to trade on.
Topic: Bitcoin Holders Hesitant to Sell Despite Price Surge - page 4. (Read 582 times)
I have a very generic response to this as why would they sell? They are long term investors and hodlers they have fixed set of Target in their mind and no way they are gonna sell it before achieving that and it's not these 20% or 50% target which we set for long term rather a calculated one based on growth. We have seen people towards their pension scheme or stocks for decades to retire with ample amount of money and same logic applies here as well. Suppose a person bought 5 Bitcoin before 2015 at the price of $1k each and he sold one at 2017 bull run around ,$22k and another when bitcoin hit $69k in the recent bull run. They are financially good and looking for certain pumps and profits which they have incurred in the past.
I think The amount of unused Bitcoin which is now at its highest ever at 70%, shows that people who own it don't want to sell, even when the price goes up. This Bitcoin hasn't been used for over a year.
This is not entirely correct.Let me put it this way, imagine you earn $2 (two 1 dollar bills) but only spend $1 and keep the other. That doesn't mean you didn't spend your money. That means you only spent what you wanted to spend.
In a lot of cases in bitcoin, this is what's happening. For example I own some coins I have not touched ever since 2014, didn't even claim the shitcoin airdrops. That doesn't mean I have never spent or sold my bitcoins. I have other coins too, for example I got some a couple of days ago and if I want to spend/sell some I would spend/sell those not the ones from 2014.
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Since Bitcoin reached its highest value in 2021, people who plan to keep it for a long time have shown they really believe in it, despite problems in the market and with the economy.
The same. People who have bought bitcoin, do believe in its long term potential but when there is economic hardship they don't have to dump all their stash. They can sell some to cover their costs and keep the rest.In any case, people are always going to keep more bitcoin than they spend/sell because in the long run the price is guaranteed to rise, this is not just because of bitcoin's potential but also because "price" is measured in fiat terms and fiat is super inflationary thanks to constant printing of it.
Isn't that somewhat expected? Mass consensus is that we're going to have a bull run around the halving event + the potential ETF approval. So of course most people wouldn't be selling this time around.
This is a matter of trust because this trust makes us think further, and have confidence that in the future the price of Bitcoin will be much higher and also more profitable.
And I think that currently many holders think intelligently about Bitcoin and even though it is profitable, they are not satisfied with profits that are only 2x or 3x. Because Bitcoin can provide 5x or even 10x profits if you have the patience and strong belief to do it, because you learn from experience not to be too hasty.
And as we know, we will face the next halving, and this can be said to be the beginning of an even higher rise.
And I think that currently many holders think intelligently about Bitcoin and even though it is profitable, they are not satisfied with profits that are only 2x or 3x. Because Bitcoin can provide 5x or even 10x profits if you have the patience and strong belief to do it, because you learn from experience not to be too hasty.
And as we know, we will face the next halving, and this can be said to be the beginning of an even higher rise.
Since Bitcoin reached its highest value in 2021, people who plan to keep it for a long time have shown they really believe in it, despite problems in the market and with the economy.
The conclusion does not follow from the premise. The Bitcoin price, as you say, peaked in 2021 and a lot of people did not sell because all predictions gave a much higher price for the cycle. Now most holders are not selling because we are at the first steps of a bull market and it is not logical to sell now if you expect that in a year or two the price will be 5 times higher than now. That has little to do with "really believe in it" and more to do with a profit maximization calculation.
I think the crypto users have started understanding the potential of Bitcoin and they very well understand, that the current price level is just the beginning of the bull cycle. Probably that's the reason they do not want to caught up in FOMO just yet.
During the last bull cycle, Bitcoin reached upto 69k USD. The current price level is nowhere near it. So there's a lot of room to grow. It doesn't make sense to give up on the hope just yet. Also another halving is imminent.
During the last bull cycle, Bitcoin reached upto 69k USD. The current price level is nowhere near it. So there's a lot of room to grow. It doesn't make sense to give up on the hope just yet. Also another halving is imminent.
I think The amount of unused Bitcoin which is now at its highest ever at 70%, shows that people who own it don't want to sell, even when the price goes up. This Bitcoin hasn't been used for over a year. Since Bitcoin reached its highest value in 2021, people who plan to keep it for a long time have shown they really believe in it, despite problems in the market and with the economy.
Bitcoin Percent of supply Last active 1+ years ago
glassnode
Also the amounts of unused Bitcoin for two, three and five years have also reached their highest levels ever showing that these investors are staying strong. Even though Bitcoin's price went up a lot this year to $37,000, the owners don't want to sell it soon. Reflexivity Research thinks selling Bitcoin right away is not likely, even though it's worth more now. But when Bitcoin becomes available in new investment ways like ETFs and futures things might change and the situation might be different details
Bitcoin Percent of supply Last active 1+ years ago
glassnode
Also the amounts of unused Bitcoin for two, three and five years have also reached their highest levels ever showing that these investors are staying strong. Even though Bitcoin's price went up a lot this year to $37,000, the owners don't want to sell it soon. Reflexivity Research thinks selling Bitcoin right away is not likely, even though it's worth more now. But when Bitcoin becomes available in new investment ways like ETFs and futures things might change and the situation might be different details
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