More investors HODL Bitcoin in anticipation of a 2021 BTC bull market
On-chain data shows a rise in HODLing among retail Bitcoin investors who expect BTC to rally in Q1 2021. New data shows Bitcoin’s (BTC) current price action is showing higher levels of ‘HODLing’ activity than previous bull cycles.According to on-chain analyst Willy Woo, an indicator called “reflexivity” has been increasing in recent months. Woo explained that the indicator measures Bitcoin investors' tendency to hold onto their BTC as its price rises. It’s essentially an alternative way to gauge the HODLing activity of retail investors.Bitcoin market cap gain per dollar invested or....
Related News
Those who bought Bitcoin this bull market are in no hurry to sell, says Glassnode, as small-time investor numbers also grow. Bitcoin (BTC) investors continue to hodl BTC at $40,000, even if they bought it at lower levels earlier in 2021.In the latest edition of its newsletter, The Week On-Chain, on June 14, on-chain monitoring resource Glassnode revealed that buyers from the first months of this year’s bull market are refusing to cash out."Very young" supply in declineBitcoin has been marked by low volume in recent weeks as price action remained rangebound between $30,000 and $41,000.The....
Pleb.Hodl, Bull Bitcoin’s new head of marketing, discussed his rabbit hold journey and the importance of welcoming precoiners.
Bitcoin on-chain analysis can be a good way to try to guess where the market is headed. The market tends to repeat itself with metrics looking the same before a bull or a bear rally, thus making this data a pretty good indicator of what’s to come. Analyst Willy Woo uses this same data to demonstrate a pattern that occurs before the bull rally, the criteria which are being met once again. Start Of A Bull Run? In a recent string of tweets, analyst Willy Woo presents data from on-chain analysis that points to the bitcoin dump having reached its bottom. According to him, “Price in relation to....
Yesterday, December 30, the price of Bitcoin closed at $425. Recall that at the beginning of the year the price of Bitcoin was $313. Growth for the year was 26.35%. Investors yesterday continued to take profits at the end of the year, market volatility has been low, and the price could not fall below the support level of $420. As we expected, the whole day yesterday the price of Bitcoin fluctuated within the corridor $420 - $440. In the Asian session also, special adjustments are not made. We asked Bitcoin expert Tomi Hrovatin from Slovenia, when will the bullish trend resume for Bitcoin?....
Analysts at Decentrader point to encouraging hodler behavior that suggests that BTC/USD is far from its cycle top at $56,000. Bitcoin (BTC) shouldn't have a problem reaching $100,000 during the current cycle thanks to impressive behavior from hodlers.In their latest newsletter seen by Cointelegraph, analysts from trading suite Decentrader including Cointelegraph Markets contributor filbfilb sought to allay fears that Bitcoin's bull run is running out of steam.HODL Waves stay bullishBacking their optimism, they said, is data showing that more and more investors are hodling BTC for the long....