Bitcoin ‘tourists’ have been purged, only hodlers remain: Glassnode
Active addresses, entities, and transactions on the Bitcoin network are all moving sideways while the number of wallets holding at least some of the assets continues to reach new highs. So-called “market tourists” are fleeing from Bitcoin (BTC), leaving only long-term investors holding and transacting in the top cryptocurrency, according to blockchain analytics firm Glassnode.In its July 4 Week Onchain report, Glassnode analysts said June saw Bitcoin have one of its worst-performing months in 11 years, with a loss of 37.9%. It added activity on the Bitcoin network is at levels concurrent....
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Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This Week Peter Schiffs bank closure strengthens Bitcoin case for financial freedomAvid Bitcoin hater and gold peddler Peter Schiff saw his bank in Puerto Rico, Euro Pacific International Bank, shut down this week, with regulators pulling the plug on the grounds that the bank was not maintaining the net minimum capital....
June saw the worst monthly performance for Bitcoin since 2011, but several metrics indicate that its underlying support base continues to grow stronger. Bear markets in cryptocurrency are known to be painful, but the month of June was especially trying for the crypto faithful as a confluence of factors resulted in the price of Bitcoin (BTC) falling 37.9%, its worst monthly performance since 2011.Bitcoin monthly performance. Source: Glassnode.As a result of the continued widespread weakness, a majority of the so-called Bitcoin “tourists” have now exited the space, leaving only the most....
The proportion of the BTC supply dormant for at least a year looks set to increase after putting in local lows. Seasoned Bitcoin (BTC) hodlers are about to spark a new price run-up by hoarding BTC, data reveals this week.According to on-chain monitoring resource Glassnode, the Bitcoin supply is due to put in a fresh ageing process.1-year-old supply bottoms outHighlighting its active supply metric, Glassnode researchers noted that the percentage of the Bitcoin supply which last moved a year ago or more is forming a local bottom.Under such circumstances in the past, holders or "hodlers,"....
Bitcoin’s price had just topped $21,000 at the time of writing — meaning around 45% of BTC holders have an “on-paper loss,” according to Glassnode. The majority of Bitcoin has been “hodled” for at least three months in behavior bearing a striking resemblance to previous Bitcoin market bottoms, says blockchain analytics firm Glassnode.In a July 16 tweet, Glassnode noted that more than 80% of the total U.S. dollar (USD)-denominated wealth invested in Bitcoin has not been touched for at least three months. This signifies that the “majority of BTC coin supply is dormant” and that hodlers are....
Billionaire and crypto-asset supporter, Mark Cuban has identified bitcoin hodlers’ endurance as a model that stock investors can follow. According to the billionaire, after acquiring the asset at high prices back in 2017, the hodlers “held on because they believed in the asset.” Following in the Footsteps of BTC Hodlers These long term hodlers were unmoved even when the crypto asset lost more than two-thirds of its value after the 2017/18 bull run ended. Cuban’s remarks about BTC hodlers were in response to a request for advice to stock traders that incurred losses....