On-chain data suggests a Bitcoin indicator may finally form a pattern historically associated with bull runs.
Bitcoin Long-Term Holders Have Reversed Their Trend Recently
According to data from the market intelligence platform IntoTheBlock, the recent activity of the hodlers has been typical for bull markets in the past. IntoTheBlock defines “hodlers” as investors who have held their Bitcoin since at least one year ago.
More specifically, the addresses that have kept their coins still on the blockchain for at least a year (that is, they haven’t involved the coins in any transactions) qualify as long-term holders (LTHs).
Note that the cutoff for the LTHs used by other analytics firms ranges between five to six months, which differs from the one-year threshold used by IntoTheBlock.
The hodlers include the most relentless hands of the sector, who don’t sell easily no matter whether FUD has enveloped the market or an enticing profit-taking opportunity has appeared.
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We współpracy z: https://bitcoinist.com/historical-bull-run-pattern-finally-forming-bitcoin/
