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πŸ”₯ Do people believe that Bitcoin will be more valuable in the future?

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@resiliencia
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Hello!

I was doing my usual checks on cryptocurrencies, and on Glassnode I found a chart that I really liked. I want to share the information with you.

First of all we should understand the data represented. On their own words:

Metric Description

Bundle of all active supply age bands, aka HODL waves. Each colored band shows the percentage of Bitcoin in existence that was last moved within the time period denoted in the legend. The concept of HODL waves was first described in this post by Unchained Capital.

(Here the post)

You basically can see visually if people are actually HODLing their Bitcoin or not. Of course, if they are HODLing it means that they have confidence that their value will be higher in the future.

Bitcoin HODL Waves

Source

On the chart we can see that on the last Bullrun, people started moving their coins. After the peak of 2018 and until July 2019 it has been quite stable and since then people is HODLing again.

More information that we can extract from this data:

  • More than 40% of the Bitcoin supply has been HODLed for more than 2 years.
  • Approximately 30% of the supply has been HODLed for more than 3 years.
  • The actual trend is that people is still HODLing their coins.

Here the details as per Jun 23 of 2020.

I hope you liked it as much as me!

Enjoy! 😊

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