The Blockchain Tells a Different Story

When it comes to Bitcoin (BTC) and its journey in 2019, a bear market is about as likely as finding a unicorn in Wall Street. Prominent figures have been waving around data and screaming from the digital rooftops, arguing that the evidence against a bear market is as solid as a rock. The blockchain holds this irrefutable evidence, making it seem like Bitcoin was throwing a party—no dips allowed!

Stalwart Hodlers: More Committed than Ever

The term ‘hodler’ has become synonymous with unwavering loyalty, and 2019 only strengthened that bond. Despite Bitcoin’s wild price swings, which resembled a rollercoaster designed by a sadistic engineer, investors were clinging tightly to their coins. The data shows that a staggering 70% of Bitcoin’s supply has remained static over the last six months—essentially, it’s like that friend who knows they should go to the gym but keeps binge-watching their favorite series instead.

Riding the Bullish Wave: PlanB’s Revelation

Analyst PlanB, creator of the well-circulated Stock-to-Flow price forecasting tool, threw a spotlight on Bitcoin’s 200-week moving average (200WMA). Spoiler alert: it’s never dropped! In a world full of pessimists, here comes the silver lining. Despite minor blips and caution from critics, Bitcoin has maintained a monthly growth of around 3%. So, who needs a therapist when you have the 200WMA to assure you that everything is going to be okay?

Statistical Insights from Willy Woo

Enter Willy Woo, a statistician with a knack for keeping it real about Bitcoin’s market behavior. Recently, he noted that Bitcoin’s downward nudges, like its recent dip to $6,400, actually place it within a re-accumulation phase of a long-term bull market. No bear in sight, just a persistent knack for collecting itself after a tumble. Comparing conditions to those in 2018, Woo brilliantly pointed out how the market’s “organic” behavior can often mislead investors into thinking the sky is falling.

Trends and Halvings: The Future is Bright

With Bitcoin’s upcoming block reward halving scheduled for May 2020, many believe it will act as a significant catalyst driving the market upward. Alistair Milne speculated on the pre-halving patterns witnessed back in 2016, suggesting that holders are already positioning themselves. So, while some scramble to grab the last snack at a party, the wise hodlers are quietly biding their time—eventually savoring the real feast.