Exactly two years ago from today we had our 2021 bull market, now two years later we can see how the majority of the buyers then held through until now. Real Holders.

If we turn the clock back two years from now, we would be in early 2021 and the very start to peak of an euphoric bull market. In March 2021 we would be battling with a complete new ATH as the BTC price remained stable at over $50k for over a month and for us peak fear meant dropping from $60k down to $50k, what a time it has been. And what a legacy that time has kept…

Some may think that people who bought back then were just following the hype train but just like every other bull market that hype train also brought in some real convicted traders that later got transferred into real holders and I guess that many of us here were part of that group of people to enter the markets back then.

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Glassnode chart from analyst MitchellHODL on Twitter

Here we can see the Supply Last Active 2+ years chart which is having a massive spike currently from 45% of the Supply towards 55% of the supply and we can be sure that spike comes from two years back when the Bull Market 2021 was happening thus the hodlers of back then held through various new ATHs without selling and even a one-year long bear market where prices went 70% down.

Today we may look back the Bear Market and say that holding was maybe not that hard but it seems obvious that the situation and conditions back in 2022 were very difficult and only we will ever know how hard it was to still believe in our deep bags being in a profit one day again.