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The Supply of long-term holders is coming narrowly close to hitting a new ATH in Crypto history! Beating even the 2015 bear market long-term holder conviction.

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by COINS NEWS 51 Views

For me arguably the most important investor group in Crypto that we should be closely analyzing, are not the whales or the bears, they are simply the long-term holders. Many may think whales control the Bitcoin supply, but that's just wrong, no one other than long-term holders control the Supply.

And the conviction of long-term holders has always been a good indicator of how brutal and how long a bear market has been, as long-term holders usually drastically increase during bear markets, as a lot of investors become increasingly smart to not waste BTC at low prices.

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And in this bear market there has been literally no stop to long-term holder domination. Right now we are just about 0.2% away from the long-term holders to control 76% of the total supply and thus make a new All-time high of long-term holder dominance. Holding ΒΎ of the whole supply is really no joke and just shows how BTC is mostly in good hands.

Now, of course, we also have to talk about what actually defines long-term holders and that is actually pretty clear , holding your Crypto for more than 155 days with no moving. Many may say that this is a very low number to be considered a "long-term" holder, but Glassnode did a very reliable study on where the most "significant drop-off to likelihood of spending" occurs and came to this conconclusion

At the end of the day, this will just further strengthen the notion of how brutal this bear market was, but still how convicted we all holders were in it. This may actually go down as the most "successful" bear market in history.

submitted by /u/partymsl
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