Bitcoin hodlers are proving to be a resilient bunch, as they continue to hold onto their investments despite the recent price gains and the early stages of a bull market. According to the latest data on Bitcoin HODL Waves, those who bought into the cryptocurrency during the 2020 bull market now control a significant 16% of the total supply. This statistic is a testament to the unwavering confidence that these investors have in the long-term potential of Bitcoin.
The concept of HODL Waves, which tracks the distribution of Bitcoin based on when it was last moved, provides valuable insights into the behavior of Bitcoin holders. The data shows that a significant portion of the supply is in the hands of those who entered the market during the previous bull run. This suggests that these investors have weathered the storm of market fluctuations and are committed to holding onto their Bitcoin for the long haul.
This unwavering belief in Bitcoin could be attributed to several factors. Firstly, the 2020 bull market saw Bitcoin reach new all-time highs, which undoubtedly created a sense of FOMO (fear of missing out) among potential investors. Secondly, the growing acceptance and adoption of Bitcoin by mainstream institutions and corporations have provided a sense of legitimacy and stability to the cryptocurrency. Finally, the underlying technology of Bitcoin, blockchain, has proven to be a disruptive force in various industries, further bolstering the confidence of hodlers.
The data on Bitcoin HODL Waves reveals that those who entered the market during the 2020 bull run remain steadfast in their belief in the cryptocurrency. Their control of 16% of the total supply is a testament to their unwavering confidence in Bitcoin’s long-term potential. As the bull market continues to unfold, it will be interesting to see how these hodlers navigate the ups and downs of the market and whether their conviction will be rewarded in the future.
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