Like I always say, the decision for the price is based on the market, not the rest. So even there is just 1 bitcoin left in the market, then whoever owns that 1 bitcoin and puts it up for sale will end up deciding the price of bitcoin.
If you own bitcoin then you are not deciding the price, it is in your wallet and you are not selling it, how could that change the market price of it, it would not and it would not cause the price to move at all. So, the holders are not the ones that decide on the price of bitcoin, sure they buy at one time to hold it first, and that is good idea and sure it may have made it go up, but since it's long term, it is just one purchase and not really a big deal.
I believe that we are going to see it go up more in the future but that is based on traders who sell and that will make all the difference. I get that it may not all that simple for the time being, but we need to end up being a lot more hyped about it to buy more and make it go up.
Topic: Bitcoin’s long-term investors own over 76% of all BTC for the first time - page 3. (Read 392 times)
October 19, 2023, 11:54:35 AM
October 19, 2023, 10:03:37 AM
Just to balance the potential over-bullishness, these "long-term investors" can just as easily dump their holdings at any time they want. Not because they're currently holding, doesn't automatically mean they're waiting for new all-time highs.
October 19, 2023, 08:53:05 AM
Yeah best language ever hodl hodl hodl, I know that the percentage of Bitcoin long-term investors/holders is going to increase when it was reported a few weeks back of large Bitcoin movement from the exchange wallets into personal cold wallets.
That was a clear indication of bitcoin holders' positive response to the forthcoming halving and the most awaited and talked about Bitcoin bull market.
That was a clear indication of bitcoin holders' positive response to the forthcoming halving and the most awaited and talked about Bitcoin bull market.
October 19, 2023, 08:41:39 AM
This is according to Glassnode and I saw it on the news
https://www.tradingview.com/news/cointelegraph:b63b789df094b:0-hodling-hard-bitcoin-s-long-term-investors-own-over-76-of-all-btc-for-the-first-time/
https://cointelegraph.com/news/bitcoin-long-term-investors-own-76-percent-btc
If people are not selling 76% of bitcoin that are in circulation, it means people are holding it and you know what this could mean for the next halving and the approval of spot bitcoin ETF by the US SEC.
HODL
https://www.tradingview.com/news/cointelegraph:b63b789df094b:0-hodling-hard-bitcoin-s-long-term-investors-own-over-76-of-all-btc-for-the-first-time/
https://cointelegraph.com/news/bitcoin-long-term-investors-own-76-percent-btc
If people are not selling 76% of bitcoin that are in circulation, it means people are holding it and you know what this could mean for the next halving and the approval of spot bitcoin ETF by the US SEC.
HODL
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