Rage

HODL

Bitcoin

<p>Out of all existing Bitcoin trading strategies, HODLing seems to be the most favored towards the end of the year. A recent analysis by Glassnode indeed revealed that 70% of circulating Bitcoins haven’t moved for a year. Could this confirm Bitcoin’s status as an emerging store of value? Details!</p>
<h2 id="h-nobody-wants-to-give-up-on-bitcoin">Nobody Wants to Give Up On Bitcoin</h2>
<p>The queen of cryptocurrencies has gained <strong>more than 150% in one year</strong>. This means that those who bought at the time it traded for <strong>$16,400 per coin on December 20, 2022, </strong>would have made substantial profits by selling at the current rate.</p>
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<p>However, apart from El Salvador, whose president Nayib Bukele does not want to part with his dearly acquired Bitcoins, and MicroStrategy, Bitcoiners prefer to HODL.</p>
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     <p lang="en" dir="ltr">As the year wraps up, HODLing seems to be <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitcoin</a> investors' preferred dynamic, according to <a href="https://twitter.com/glassnode?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Glassnode</a>.<br><br>Data shows that more than 70% of the circulating <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> supply has been inactive for over a year. <br><br>Watch Chart of the Day, presented by <a href="https://twitter.com/cryptocom?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@cryptocom</a>: <a href="https://t.co/IwiQ3pePpZ" rel="noopener noreferrer nofollow">https://t.co/IwiQ3pePpZ</a> <a href="https://t.co/UeLvo5TA4S" rel="noopener noreferrer nofollow">pic.twitter.com/UeLvo5TA4S</a></p>— CoinDesk (@CoinDesk) <a href="https://twitter.com/CoinDesk/status/1737258347781304470?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 19, 2023</a>
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  Glassnode survey on BTC hodling
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<p>“<em>At the end of this year, <strong>the HODLing seems to be the favorite dynamic of Bitcoin investors</strong>, according to Glassnode.</em></p>
<p><em>The data shows that more than 70% of BTC’s circulating supply has been inactive for over a year.</em></p>
<p><em>See the chart of the day, presented by Crypto.com.&nbsp;</em>”</p>
<p>Thus, <strong>HODL has once again won out over FOLD</strong> at the end of the year. Because only 30% of circulating Bitcoins have been sold or traded. The rest are peacefully sleeping in crypto wallets waiting for the opportune moment to significantly benefit BTC traders.</p>
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<p>As a reminder, the term HODL, an acronym for “Hold On for Dear Life,” translates as: “Do not sell, as if your life depended on it.” According to <a href="https://www.kraken.com/fr/learn/hodl" target="_blank" rel="noopener noreferrer nofollow">Kraken</a>, this strategy came from a member of the <strong>Bitcointalk forum</strong> who decided to keep his Bitcoins after deeming himself a “bad trader” in December 2013.</p>
<p>Another crucial point: GameKyuubi, the famous BTC trader, slipped a mistake in the title of his post. He had written “HODLING” instead of “HOLDING”. Since then, the community has adopted it: <strong>those who prefer to keep rather than sell opt for “HODL”</strong>.</p>
<h2 id="h-when-to-sell-your-cryptos">When to Sell Your Cryptos?</h2>
<p>With predictions of a Bitcoin bull run shared by social media, <strong>crafting an exit strategy</strong> becomes complex. Indeed, while buying cryptocurrencies seems like child’s play, selling similar assets requires more thought.</p>
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<p>Firstly, let’s note that any self-respecting crypto investor must consider the following goals: minimizing losses, realizing and maximizing profits, etc. (Source: <a href="https://academy.swissborg.com/fr/learn/crypto-exit-strategy" target="_blank" rel="noopener noreferrer nofollow">Swissborg</a>).</p>
<p>A Bitcoin exit strategy can be established based on the <strong>price development of the asset,</strong> for example. The trader may decide to sell after BTC has reached a 250% increase. At this stage, support and resistance levels for Bitcoin should be taken into account.</p> 
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<p>Another common practice in Bitcoin selling is staggered exiting. Parting with your BTC on a whim, or following an analyst’s advice can lead to regrets. Those who followed CNBC’s Jim Cramer in December 2022, who suggested selling, would be able to teach us a lot more on this topic.</p>

Bitcoin (BTC): Strangely, HODLing Is All the Rage – Glassnode Analysis

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Ďalšie články zverejnené 21. 12. 2023

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