Ecoinometrics says "there's no reason to panic about a little dip" if Bitcoin repeats its performance in past halvings.
On Twitter, the analytics account ecoinometrics said there is “no reason to panic about a little dip.” It shared an image that projects where Bitcoin is heading next, based on the growth range that was seen in past halvings.
Of course, past performance doesn’t always accurately indicate what’s going to happen in the future — and we’ve already seen Bitcoin defy expectations.
New research has cast a light on how different market participants have been reacting to the elevated prices that were seen over the weekend.
According to Glassnode, there is a stark divide between long-term holders (who own coins that are more than 155 days old) and short-term holders who fall under this 155-day threshold. It revealed that more than 95% of spent outputs concern young coins — indicating that they belong to newer investors who are “more sensitive to price volatility.”
Meanwhile, long-term holders are characterized as “reasonably knowledgeable about the Bitcoin protocol and have high conviction in the asset. They tend to accumulate cheap coins in bear markets and realise profits on expensive coins in bull markets.”