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People who bought Bitcoin in 2017 becoming the strongest HODLers, new data shows


People who bought Bitcoin in 2017 becoming the strongest HODLers, new data shows

Investors who began their Bitcoin journey three to five years ago have stronger hands than you might think. Bitcoin (BTC) may be worth almost three times more than at the height of its 2017 bull run, but a lot of hodlers from that time refuse to sell. The latest data from Bitcoin financial services firm Unchained Capital shows that 2017 buyers control an increasingly large amount of the BTC supply. 2017 hodlers are not "weak hands" According to Unchained’s HODL Waves chart, which ranks the supply according to when coins last moved, those who bought three to five years ago are sitting on their investment. Since the cross-asset crash of March 2020, when BTC/USD fell to lows of $3,600, the percentage of the BTC supply that last moved between February 2016 and February 2018 increased from 5.57% to 13.38%. In other words, the uptrend in price during 2019, much of 2020 and all of 2021 has not made 2017 bull run investors sell after surviving the multi-year bear market. By contrast, the five to seven-year and seven to ten-year hodl crowd has been reducing its presence over the past year. “At the beginning of January, 59% of all bitcoin in the network were sitting for longer than 1 year without moving, and by the end of the month, that number dipped to 57%, a decrease of 2% or around roughly 372,320 bitcoin,” Unchained wrote in an update earlier this month.

Coin Telegraph - 25th Feb 10:02