21.5% Of Bitcoin Owners Are Hodlers Despite BTC Price Scares

  • Bitcoin (BTC) sinks 5.1 percent in the last day
  • Holders are steadfast, 21.5 percent of all BTC in circulation static in the last half a decade

In an independent research, Delphi Capital now reveals that holders are unmoved even by the recent Bull Run. Overly, it is a good sign that over 21.5 percent of all BTC in circulation are secure. It’s a sign of confidence, especially now that bulls are cooling off in a correction.

Bitcoin Price Analysis

Fundamentals

Coinciding with Yen, CHF and gold revival, Bitcoin’s rally was significant. Despite criticism, Bitcoin is gradually emerging as a reliable store of value regardless of historical price fluctuations.

Even though the same volatility tick traders, fund managers and the wealthy seeking safe refuge for their rightly accrued wealth are funneling their stash to Bitcoin. Timely entries could lead to extraordinary gains. On the other hand, buying the asset without a safety net could mean deep losses.

Nonetheless, what is attractive is Bitcoin’s stability. Secured by pitch-perfect distribution and decentralization, the network is robust and presently impervious. Add that to the trustlessness and the lack of intermediaries guaranteeing an autonomous system and that could explain the reason why 21.5 percent of all BTC in circulation are static, stored in a single address over the last five years.

A further 60 percent of all BTC, as per an analysis of UTXO (Unspent Transaction Output), are yet to be moved in the previous year. According to Delphi Capital, recent price swings also attracted new sellers. Outflows through to June also increased revealing that coin owners may be moving their stash offline in readiness of holding.

Candlestick Arrangements

Tumbling 5.1 percent from last week’s close, BTC sellers are in the driving seat. Although it is too early to draw conclusions, the temporary dip below $9,500 hint of fractures. Moving on, and in sync with previous BTC/USD trade plans, every pullback is technically a selling…

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