Bitcoin investors are not selling their Bitcoins as they used to. Is Bitcoin a safe haven anymore?
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Introduction
Recent analyzes show that Bitcoin investors are not selling as they used to even though they are in profit. While there is a significant decrease on the sales side, it is thought that BTC will rise even more.
BTC = HODL
Bitcoin investors are showing more and more patience on the sales side, the selling wave is decreasing and the HODL trend is increasing. Glassnode company published a report on this subject. The report says; "While Bitcoin is at $ 107,000, the vast majority of investors are holding unrealized profits." The company explained this trend as Bitcoin investors having a "strong tendency to HODL". It also said that Bitcoin's total unrealized profit, that is, the gains that have not yet been sold by investors, has reached $ 1.2 trillion and is approaching the all-time peak of $ 1.3 trillion reached towards the end of last year. The average investor is currently holding 125 percent of paper gains.
Why are investors HODLing BTC? The biggest reason for this is the expectation of further upside. Investors may have increased their confidence in the mainstream cryptocurrency and may now consider it a safe haven. HODLing seems to be the dominant market dynamic for BTC and this effect is expected to increase. As long as Bitcoin remains above the $100,000 price zone, it is thought to be bullish in the long term.
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