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Bitcoin ‘Hodlers’ Give Battered Bulls a Lifeline to Hold On

From bnnbloomberg.ca

As Bitcoin remains well-off its record highs, advocates are finding glimmers of hope for the world’s largest cryptocurrency by analyzing the makeup of its investors. Even with the gain so far this week, the token is still down over 30% from its November record near $69,000. But on-chain data suggests that more investors are “hodling,” or holding onto their Bitcoin -- and for longer amounts of time than before. According to Noelle Acheson, head of market insights at Genesis Global Trading, about 75% of Bitcoin currently in circulation is held up in so-called illiquid addresses, meaning digital wallets that spend less ... (full story)

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  • Category: Fundamental Analysis