Topic: Bitcoin’s long-term investors own over 76% of all BTC for the first time (Read 315 times)

Looking at how we are doing great these days, I think the market finally picked up on it. I think all that "oh it is going up because of a fake ETF news" was old news, I do not think that its going like that and I think its doing fine, I do not think that it will do all that badly. I get it, people approach it like we are going to end up with something lower when everyone realizes that's a lie, but that's not really true, its been over a week and we are still going up which means that it didn't go up because of that at all.

I think it should be quite important that we are going up because we want to buy and hold and want to take it higher, that's the thing people should realize. All those news are old news and shouldn't really be a bother, we need to end up with anything that would be a bit different. I hope that we are going to end up with something that should be a bit different in the end and we can comeback a bit later on, and see that it is even higher.

Well, this is a very huge number, I mean 76 percent of the entire circulating supply of bitcoin is not far from 100 percent of the same circulating supply, I personally believe these guys know the potential in bitcoin, they sure know what is coming for bitcoin in this coming halving.
Bitcoin halving alongside the US SEC approving the Bitcoin ETF could be a game changer, I personally have a feeling that the coming bull run could end up being very best of the all, we may likely see or experience something we have never experienced or seen before.

This is a pointer for us all, it's time to hold bitcoin and not a time to sell, I personally will not trade bitcoin this time for it might be very risky, better to trade altcoins and use the profit to buy more bitcoins and hold.

This number will continue to rise for many reasons. The biggest two probably being that people tend to lose their private keys resulting in what looks like coins being held by long term investors, and also the rise in exchange traded funds will surely result in coins being taken off the market and held in cold storage on behalf of investors.

I am not sure if they are going to end up approving it anytime soon. There was a wrong rumor about Blackrock ETF being accepted but it turned out to be wrong so I doubt that it would be any different on this one as well, I think it is going to be pretty much similar thing yet again. I get that it may feel like maybe it is not the same thing but I think ETF thing is just not anytime soon and the increase has nothing to do with that.

If it was approved then it would be, it is still going up without the ETF which means that there are other reasons. Plus, there has been plenty of good news during the bear run and that means we should be considering that a bit different and could be doing something that could change it long term.

Of course, things are like that when it comes to how to bet on slots, for me it is an art to be able to do it, because I have seen many people who say that slot machines don't do so well, and this can trigger many things, first of all, they may feel bad. Due to the amount of money they lose, they can surely trigger some ways in which humans can fall into addiction when there is no necessary control of the money, it is something common that basically we must know how to deduce so that we are not wrong as we should bet on a slot because it is very likely that if you indulge too much with the slot, you can lose a lot of money, there are people who usually play the slots only for little money, and I don't blame them, it is a very good strategy, for me it is the best, as I have said in many threads, for me these slots are used to relax, I'm not looking to win, I'm looking to relax and get the hang of it better, to de-stress, I may be very stressed but if I start playing in slots, it happens to me, but for me the trick doesn't It is not about winning, nor about seeking profits, my trick is purely for fun, as I like their music, their way of doing things, well I enjoy it, what I do is basically put myself in the game and play until I spend my money, of course I have to play with 10usd in each game, sometimes I play once a week or 2.

There are people that I have seen who put up to 500usd in the slot machine and lose everything, the truth is that it is something that gives me a lot of pain, I don't know how they do it or how they play but if they lose everything and suddenly rapadia and sporadically they raise the bets and They can have many things that make mistakes, for this reason I will always prefer slots not to play to win money, but for fun, as I have said, I see tagamonedas as a diverse service where you must be very careful, That's why it's like a game for Adults, because any bad movie doesn't involve money and that's delicate.

Yes, HODL is something we must continue to do at this time, especially since the price of bitcoin has now reached $32k. Let's hope this increase continues until $35k and take a break for a bit. I'm optimistic that the SEC will approve a bitcoin ETF and as you said, that could push the price higher than it is now.

The trend of increasing prices this month is quite good. You are right, this cannot be separated from the news that the SEC will approve a spot bitcoin ETF and perhaps because of other events that I don't know about, but the hype spiked in prices that had already reached $35K and are now at $34,152. Of course, what is needed now is patience because time will continue to move forward.

The increased exchange outflow posted by dansus21 is 2021 data. The Coindesk article was updated March 6, 2023 at 22:34.

The picture was published in 2021 and now it is 2023. Bitcoin owners who withdraw some of their assets on the exchange are a better thing than leaving them stored on the exchange for years. So, time will determine when we will experience the next highest price.
I predict that will happen in 2024.

This are the best time to hold. The reason for the latest price surge is because of bitcoin spot ETF hype. Let us see what would happen, but I think bitcoin is still bullish right now. Only what that is needed is time, United States SEC will approve bitcoin ETF and the price would likely go higher. And according to what dansus021 just posted, the exchange outflow has increased and that only means people are not ready to sell but hold instead.

Crypto Exchanges See Biggest Bitcoin Outflow in 7 Months. A Reason to Cheer? - https://www.coindesk.com/markets/2021/06/08/crypto-exchanges-see-biggest-bitcoin-outflow-in-7-months-a-reason-to-cheer/

Seems more and more people withdraw from exchange for better security when HODL Long term

seems like so many whales are faithful with bitcoin but some people concern here in regard of some people that lose access to their bitcoin therefore increasing the amount of bitcoin never moving is also valid point.
not to mention the fact that some people might not care about some bitcoin, a minimal amount, that still stuck in their wallet and don't bother with it.
that could accumulate to massive amount but I guess saying that this gonna affect massively on percentage of that 76% is a stretch.
I'm sure its mainly because many people are just faithful with bitcoin and know that its best investment ever thats why they choose to hold.
this could reflect the fact that maybe bullrun is near, but of course the correlation isn't strong.

This data has already started pricing in the Bitcoin market looking at the sudden surge in price we got lately.  Just today Bitcoin had a tremendous price increase that saw the price smash the strong $31k resistance level drop the price more than 3 times on getting to that level and go as far as touching $33.7k from the $28k price level, making it roughly a six thousand-dollar increase in the price of Bitcoin.
The momentum is back and Volatility has increased hugely.

The ones that has been published by Cointelegraph about the Bitcoin ETF was fake but there have been applications already and waiting for them to get some approval at the perfect time. It's true that there are no perfect news either good or bad that affects the market sentiment. Those that have been patient all over the time and understands the importance of this attitude towards the market won't get easily get triggered by any of these news because we've been there and done that before. One wrong emotion will tend to do a wrong move.

Return? You've left the market or you've sold already your holdings? I know people like you that are waiting for some push before they go back and these are the people that have sold majority of their Bitcoin and that's the move that they're waiting for because they find the market so sluggish and uninteresting when it's laggard.

Yes, the word “HODL” will be a trend and will be the most used word during the coming months before the halving. Most people are optimistic about a significant rise in the price of Bitcoin after the halving, so most of them will not sell their Bitcoin at the present time. This will definitely boost the price.

It is true that all of these are just predictions for the future, but their impact will begin to become clearer and clearer during the coming period, and this magic word will play a major role in achieving these expectations. So yeah the golden advice for everyone is to just “HODL”.

And the reason for this is that their mentality is completely different, a retail investor is worried about whether their investment does well or not on the short term as they have invested a great deal of their money on this market, while the whales can invest a fortune and they still have a lot of money to spare, so this allows them to not care too much about the price or how long they will need to hold their coins as they know that once the bull market arrives they will make so much money that nothing else will matter.

A big institution has its own balance sheet and yearly report about it. So if most of them are buying bitcoin gradually then some of their actions have already been revealed by the media. There are people who have the wealth to accumulate a large chunk of bitcoin in the long run. This can be some wealthy Arabs, some drug mafia, some corrupt politicians and even some government officials who are buying bitcoin secretly.

To accumulate that much I don't think they did all of that when the price was going down or when the price was down, pretty sure that some big company out there are buying no matter what the price is because as you've said, they're waiting for the bullrun and while they're waiting, they might as well continue accumulating no matter what the price is and in regards to whales taking profit early, the best thing that you can do about this is to take the profit when you have the feeling that the whales are going to make waves or a better option would be that you should have a certain price where no matter what, that's where you're going to sell all your bitcoins and then hope that it's the price right when bitcoin's about to go down again to do some correction.

I think we should focus on market sentiment. There are no good/perfect news. Bitcoin etf thing was fake. There is not much reason to start another Bitcoin bull market. Patient holders are not bad thing for sure but its influence on price can be quick and easily finished. For example we saw Bitcoin hitting 30k, but there its volatile. I am only planning to return if price hits around 35k. That would confirm at least mid term bull trend.

Other than that, people who self-custody their bitcoins do not have an influence on the price, as the OP seems to suggest, because the price of Bitcoin is calculated from buy and sell orders on exchanges.

To influence the price, one way would be to deposit those Bitcoins on the exchanges and place high sell orders (at $100K, $200K or whatever one's target is) but no one does that, as usual, because it means losing control of your Bitcoin with your private keys.

Give a figure like that and I can't understand it, because of that 76% many do not have them anymore because what they have done is lose the private keys, this means that the btc that were under their power are no longer under their power, etnones me I think that when we are thinking about how much or little we can have worldwide, those BTC should no longer be counted, but that makes the price go up more because we have to see how much it is being valued in those who have bitcoin , I am a person who would like to have bitcoin but I have not been able to Collect 1, because the people who have bitcoin in the future will be the ones who have their future assured , is what I think.

This doesn't affect the chances of getting approval for ETFs.

And as for the price, we also need high demand, not just low supply by people refusing to sell. The price won't be moving much if the demand is even lower than the offered supply. People like to quote that only a small fraction of global population owns Bitcoin, so there's a huge potential for new adopters, but it's also true that a lot of people have already heard about Bitcoin and are not interested. And there's no reasons to think that suddenly the masses would change their mind.