Users Who Purchased Bitcoin to Become the Biggest HODlers in 2017, Latest Data Reveals
Cryptocurrency Broker – Ollie
Investors who started their Bitcoin adventure three to five years ago have greater hands than you would expect.
Bitcoin is said to be worth three times as much as it was back in the 2017 bull market, but a number of HODlers from that time did not sell Bitcoin.
New research from Bitcoin financial resources company Unchained Capital reveals that 2017 investors own an exponentially significant volume of BTC supplies.
2017 HODlers are not "bad hands"
As per Unchained HODL Waves table, which rates the supply according to when the coins were last transferred, anyone who purchased three to five years ago are sitting on their purchase. Investors may be unaware of the Bitcoin selling price or are waiting for their Bitcoin investments to further increase in value.
After the collapse in March 2020, when BTC/USD dropped to $3,600, a large percentage of BTC supplies transferring between February 2016 and February 2018 rose from 5.57% to 13.38%.
In other terms, the upswing in price through 2019, all of 2020 and much of 2021 did not make the 2017 Bull Run buyers sell until the multi-year bear market had survived. On the other hand, the five-year to seven-year and seven-year to ten-year crowd has reduced its impact over the past year.
“At the beginning of January, 59% of all bitcoin in the network were sitting for longer than 1 year without moving.” This number did drop 2% (approximately 372,320 BTC) by the end of the month, Unchained reported in an update earlier in the month.
Earlier large Bitcoin transactions from January have also been analysed. Findings show that “It appears that most of the bitcoin transacted during January was bitcoin sitting for less than 3 years, as the bitcoin resting for 3-5 years actually increased by .8%, totally unperturbed by the price volatility.”