Bitcoin (BTC): This asset we no longer want to part with?

Bitcoin (BTC): This asset we no longer want to part with?

Saturday 03 September 2022 ▪ 2:00 pm ▪

min read – with

HODL, which is buying and holding assets, is a very common practice in the world of cryptocurrencies. In this context of bear market, more and more investment advisors are talking about it in order to avoid any loss related to bitcoin volatility. To see the latest statistics, listen to these experts.

62% of bitcoin holders did not sell

According to Finbold, 62% of bitcoin holders chose the ” HODL ” for more than a year. The current market situation would certainly force them to hold their BTC holdings to avoid any form of depreciation outside of the portfolios.

Also, it was mentioned that 32% of bitcoin investors sold their assets between 1 month and a year. This data is being collected on the 1st dayer September with TipRanks.

Breakdown of bitcoin holders over time – Source: TipRank

According to these statistics, there is a decrease in bitcoin selling pressure at the level of investors. Moreover, a indent even the name knows how to ignore, if not overcome, all this.

Because of doubt often lead to an investor selling at the bottom. Something that Changpeng Zhao (CZ) recently advocated against.

They should go away from the stress of those investors who decided to keep their bitcoins in their wallet.

The pressures are there

In fact, the downturn brings with it many aspects that would encourage unwelcome headwinds.

Recently, the price of bitcoin fell due to Jerome Powell’s announcement of an interest rate hike from the Fed. The queen of cryptocurrencies lost her luster immediately after her declaration.

It should also be noted that the views of John Williams, chairman of the management of the Federal Reserve Bank of New York, together with the views of the governor of the Bank of Estonia on the impotence of central banks against inflation. impact on bitcoin.

J. Williams has said from time to time that he is “ need to give real interest rates… above zero “.

For Madis Müller, we must ensure that the ” 75 basis points [fasse] some of the options for September since the outlook for inflation has not improved. »

However, the increase in interest rates is associated with a recession. And this is sure to affect volatile assets like bitcoin. US equities will not be breached either. In all this, the hodl still the best choice, since the bull run which is not much at all.

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The blockchain and crypto revolution is underway! And the day the effects are felt on the most fragile economy in this world, against all hope, I will say that I was involved.

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