Sep 5, 2022 at 10:31According to two analyst companies at once, TipRanks and Glassnode, there is a dominance of so-called hodlers in the market, which is an excellent signal that the price has reached its bottom. This is good news, as two metrics at once predict the end of the crypto winter soon.
Predictive analytics from TipRanks
According to analytics platform TipRanks, which continuously monitors the crypto market, 62% of BTC holders have not sold an asset for more than a year in the background of prevailing depressed market sentiment and constant FUD. At the same time, 32% of investors had sold the asset within one to 12 months.
In other words, this means that under the pressure of constant FUD and falling prices, all those who were ready to sell BTC have liquidated their positions. At the moment, the so-called hodlers (otherwise known as “strong hands”) are left in the market as long-term investors.
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From the analysis point of view, this is the bottom of the market, when further significant selling and dumping is technically impossible. Being at the bottom of the market comes the so-called consolidation phase. Historical data confirms that there is usually a reversal in a few months and a new market growth cycle begins in such a situation.
Additional data from Glassnode
Glassnode’s fresh data correlates very well with the statistics above. A record low 6.1% of Bitcoin’s circulating supply has been moved on the blockchain in the last month.
According to analysts, the bear market ends when only strong hands remain in it. The decline in fund movement again confirms that hodlers who fundamentally do not want to sell their assets and are highly resistant to stress and FUD prevail in market players.
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