I have just read an article about Number of Bitcoin "Hodlers" Reaches New All-Time High Despite Crypto Market Bloodbath and I have to say that it is curious to see how the behavior of these HODLERS has changed compared to previous cycles. It has nothing to do with the precedent times actually.
When the previous bull cycle reached $20,000 as an all-time high, what preceded this event was a drastic reduction in the holdings of BITCOIN HODLERS months before reaching the ATH. Same happened before...
We have not experienced this moment in this cycle, or perhaps we have done it in a very timid way.
What we are witnessing is something that we have not seen before and that is that more and more people are willing to keep their BITCOINS at rest or to accumulate more.
This phenomenon is visible of course if we follow the Top100 Richest Wallets on BTC
It is usual norm lately that of the total of these whales only 20% show some type of important activity.
These last 7 days, the activity has focused once again on buying BTC more than selling in a ratio of 7 to 1... and it must be said that they are also doing it at an incredible price with what we can say that we are in clear accumulation phase more than in a BEAR market... The duration of this period of accumulation seems to be much longer than what was experienced in previous cycles and I also do not see clearly that we are at the bottom of the correction so for the moment, I one to the BITCOIN accumulators club although, to be honest, I have never stopped being one (LoL).
@toofasteddie
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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