Bitcoin’s HODL Waves 2020 Bulls Grabbing the Reins, Now Commands a Whopping 16% of Supply!

Bitcoin HODL Waves 2020 Bull Run Investors Now Hold 16% of Supply

Bitcoin (BTC) has amassed a new squad of hodlers over the past three years, as these stubborn investors refuse to let go. They are the rockstars of the crypto world, boldly holding onto their precious coins despite the ups and downs of the market.

According to the HODL Waves metric (which sounds like a gnarly surfing move), those who jumped aboard the Bitcoin train in late 2020 are still sitting pretty on their stash. These hodlers are like the swashbucklers of the crypto realm, bravely weathering the storm and refusing to sell until the price goes “way higher.” It’s like they’re waiting for Bitcoin to reach the moon and back before they even consider parting with their beloved digital treasure.

The HODL Waves metric, which categorizes BTC supply based on the time since each coin last moved, reveals an interesting trend. There’s a particular age band of coins that has significantly grown in the past year. It’s like a group of seasoned crypto warriors, battle-hardened and battle-scarred, standing tall amidst the chaos. Back in December, this group accounted for a mere 8% of the supply, but now they hold a mighty 15%. These hodlers are as resilient as titanium-coated diamonds, resisting the temptation to cash in on their gains.

The Realized Cap HODL Waves, a visual representation of the weighted value of different coin cohorts, further exemplifies the hodlers’ unwavering tenacity. The biggest chunk of the total realized cap now comes from two to three-year-old coins. These hodlers are like wise elders, imparting their hodling wisdom to the younger generation.

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But let’s not forget that Bitcoin has still witnessed some incredible gains this year. BTC/USD is up a staggering 165% year-to-date. It’s like a rocket ship shooting for the stars, carrying these hodlers and their dreams of unimaginable wealth.

Philip Swift, the creator of Look Into Bitcoin, a statistical resource that hosts HODL Waves, has been closely watching this phenomenon. He recently predicted on X (formerly Twitter) that long-term Bitcoiners won’t even think about selling until the price goes “WAY higher.” It’s like they’re waiting for Bitcoin to soar to new heights, making Elon Musk’s dreams of Mars colonization seem small in comparison.

On the other side of the battlefield, we have the speculators, the short-term holders (STH) who are always ready to ride the waves, looking for quick profits. These speculators are like surfers trying to catch the perfect wave, hopping on and off their boards at a moment’s notice. They have been taking some profits lately, triggered by Bitcoin passing $40,000. It was like a siren call that couldn’t be resisted, resulting in a snap sell response worth $4.5 billion. But their actions had little impact on the spot markets, where the hodlers hold the reins of power.

Data from Glassnode, an on-chain analytics firm, shows that the hodlers currently control a whopping 76.3% of the supply. It’s like they’re the kings and queens of the crypto kingdom, ruling with an iron fist. These hodlers are the true holders of the crown jewels, with their ownership of 14.92 million BTC (almost reaching all-time highs).

So fellow hodlers and crypto enthusiasts, let’s raise a glass (or should I say a digital wallet) to these brave hodlers who remain unfazed by market fluctuations. May their resilience inspire us all to embrace the long-term view and hodl on. Remember, hodling is not just a strategy; it’s a way of life.

And to the speculators out there, may your waves be strong and your profits plentiful. Just don’t be too quick to let go of those shiny digital coins. Who knows, one day you might join the ranks of the legendary hodlers.

Now it’s your turn, dear readers! Are you a hodler or a speculator? Share your thoughts and experiences in the comments below. Let’s ride this crypto wave together! 🌊🚀

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