The HODL Wave: A Bullish Indicator for Bitcoin
Forget your fears, fellow crypto enthusiasts! If you’re worried that Bitcoin’s meteoric rise might just be a fever dream, it’s time to wake up. According to analysts from the trading suite Decentrader, the latest data indicates an increasingly strong grip by long-term hodlers — so much so that $100,000 per Bitcoin might be closer than we think!
Why HODLers Are Key Players
What exactly is a HODLer? In the world of Bitcoin, a HODLer is a steadfast individual who keeps their coins for the long haul, ignoring those tempting sell signals. This is pivotal because as the HODL Wave grows (the measure of Bitcoin held for over a year), the selling pressure starts to ease. Imagine a room full of people holding onto their wallets tightly — that’s the current crypto market!
The HODL Wave Indicator Explained
Decentrader recently highlighted how a significant portion of Bitcoin is being held long-term, indicating that approximately 50% of BTC being HODLed could spell continued bull markets. When investors are gripping their coins like a toddler clinging to their favorite toy, it suggests optimism and stability.
Coin Circulation: The Great Lockdown
Interestingly, around 36% of Bitcoin is made up of so-called
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