HODL

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-investors-cling-to-assets-as-on-chain-activity-dips" rel="noopener noreferrer nofollow">Bitcoin Investors Cling to Assets as On-Chain Activity Dips</a><br></p>
<p style="text-align: justify">Recent data analytics from Glassnode have revealed that despite <a href="https://en.bitcoinhaber.net/bitcoins-rough-ride-etf-hype-meets-reality-and-miner-influence" rel="noopener noreferrer nofollow">Bitcoin</a> reaching unprecedented price levels, surpassing the $70,000 mark, on-chain transaction volumes in terms of US dollars are significantly below the zenith witnessed in 2021. This pattern suggests a prevailing sentiment among investors to hold onto their Bitcoin rather than selling, betting on future price surges and exhibiting a robust trend of asset retention in the marketplace. Analysts interpret this as a manifestation of a strong HODL mindset among <a href="https://en.bitcoinhaber.net/exposing-cryptocurrency-deceptions-opnx-shuts-down-as-oxfun-emerges" rel="noopener noreferrer nofollow">cryptocurrency</a> participants.</p>
<h2 id="market-observes-lower-transaction-volumes-despite-high-bitcoin-value">Market Observes Lower Transaction Volumes Despite High Bitcoin Value</h2>
<p style="text-align: justify">Even with Bitcoin hitting a record high of $73,750, there is a noticeable decline in economic transactions on its blockchain. Analysts from Blockware Solutions highlight a discrepancy between the soaring price and the muted on-chain dollar volume. Current data shows average transfer volumes to be under $200,000, a stark contrast to the 2021 bull market where figures exceeded $1 million.</p>
<p style="text-align: justify">The spike in Bitcoin’s value is attributed to Wall Street’s growing interest in spot Bitcoin ETFs on Nasdaq and the concentration of volume within these ETFs. Conversely, the on-chain volume remains subdued, signaling a collective investor decision to retain Bitcoin post the 2022 bear market in anticipation of further price appreciation.</p>
<h2 id="supply-stagnation-suggests-a-strategic-wait-for-higher-prices">Supply Stagnation Suggests a Strategic Wait for Higher Prices</h2>
<p style="text-align: justify">Blockware Solutions analysts further speculate that a significant price movement for Bitcoin will precipitate an increase in on-chain volume as seasoned Bitcoin holders may begin moving assets to exchanges for sale. The current low volume hints at a scarcity of supply-side liquidity and underlines the investor reluctance to sell their holdings.</p>
<p style="text-align: justify">The data also shows a growing portion of Bitcoin that has remained inactive for 3 to 4 years, reflecting the confidence of long-term investors. Projections from experts suggest that Bitcoin’s price could ascend to six figures in the near term, possibly breaching $150,000 in the long run. Presently, Bitcoin trades at $67,260 with a market capitalization of $1.32 trillion, marking a 3.57% rise over the past day according to CoinMarketCap.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-investors-cling-to-assets-as-on-chain-activity-dips" rel="noopener noreferrer nofollow">Bitcoin Investors Cling to Assets as On-Chain Activity Dips</a></h5>

Bitcoin Investors Cling to Assets as On-Chain Activity Dips

Mục lục

BH NEWS

Các bài viết khác được xuất bản trên 25 thg 3, 2024

Binance Ends Support for TRC-20 USDC Following Circle’s Lead

Ethereum Eyes $4,000 Milestone Amid SEC’s Scrutiny

Dogecoin Price Action: Why A 10% Drop Would Cost Traders $66 Million

Federal Government of Nigeria Charges Binance With Tax Evasion: Details

Solana’s Milestone Achievement and Market Optimism

Expert Analyst Forecasts Major Gains for Three Notable Altcoins

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!