The Immutable Commitment of Bitcoin Holders
In a digital world where trends come and go faster than a New York minute, Bitcoin long-term holders are operating under an entirely different philosophy—slow and steady wins the race. Recent data from Glassnode reveals that a staggering 24.351% of Bitcoin (BTC) has remained untouched in wallets for a minimum of five years. Just let that sink in: nearly a quarter of the circulating supply is lounging in wallets like it’s on a perpetual vacation.
Resilient Holders: The 2017 Class and Beyond
Many of today’s Bitcoin cash-holders scooped their stash back in 2017 or earlier, and guess what? They are still holding tight! Despite Bitcoin’s recent recovery—bouncing back almost 40% from its harsh dip to $17,600—these diamond-handed enthusiasts aren’t tempted to sell. The enthusiasm for hodling (and yes, that’s a real term) seems to be growing rather than waning, as validated by the fresh data coming from Glassnode.
Is Hodling the New Trend? Absolutely!
- As of August 18, the amount of BTC that stayed dormant for five or more years reached a record high.
- Comparatively, younger coins (those held for at least a year) are also reflecting similar trends of stagnancy in wallets.
- Market fluctuations don’t seem to faze this dedicated group. Institutional investors may be selling off, but the hodlers? Not so much.
Understanding Bitcoin Liveliness: A Gauge for the Times
So, what exactly is Bitcoin “liveliness”? It’s akin to a temperature gauge for the Bitcoin community’s enthusiasm. When people sell, liveliness rises; when they hodl, it drops. Recently, this meter hit a 19-month low, pointing towards a growing desire to hold onto coins rather than trade them. Tamas Blummer’s liveliness metric is calculated through Coin Days Destroyed, which is kind of like tracking how long your various Bitcoin coins have been lounging around not being spent—a fascinating yet complex concept!
Parting Thoughts: Hodling in Volatile Times
As inflation rises in various parts of the world and the prospect of economic tumult looms, it seems the Bitcoin fanatics are doubling down on their optimism. With record hodling patterns and a price rebound above the 2017 highs, one can’t help but wonder: do these holders see something the rest of us don’t? Perhaps they possess a crystal ball, or perhaps they just know how to take a chill pill in the face of market chaos. Either way, they continue to redefine what it means to be a long-term investor in a world buzzing with volatility.
+ There are no comments
Add yours