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Amid the bear market, 62% of wallets did not sell Bitcoin for a year

HODL Bitcoin
HODL Bitcoin / Image Credit: CRYPKYP
1662198362 03 Sep / 09:46

On-chain analytics reveal that the bulk of Bitcoin (BTC) traders have been holding for more than a year despite the uncertainties brought on by the bear market.

Although on-chain signals are still pessimistic for BTC, the trade analysis tool TipRanks shows that 62% of wallets have kept the cryptocurrency for one year or longer. However, 32% of wallets were found to have survived for a month to a year. Last but not least, only 6% of people have been holding for less than a month.

The website displayed its study of the profitability of holding Bitcoin in addition to holding. The data shows that 48% of the present holders are making money, while the same number are making losses. The statistics also showed that the final 4% are neither making a profit nor losing money.

Despite recent drops in the price of Bitcoin, roughly a quarter of the total supply remained in wallets. On August 18, on-chain measurements revealed that 24% of the BTC supply had not changed hands for at least five years, indicating that long-term investors are unlikely to sell, particularly during a bear market.

According to a recent survey by market research company Appinio, 55% of cryptocurrency investors kept their assets despite the recent sharp sell-offs in the market. 40% of respondents to the survey still think Bitcoin represents the best investment opportunity over the next three months.

Zach Burks, the creator of the NFT marketplace Mintable, has detailed his cryptocurrency experience and trading methodology. Burks claims his objective is to keep accumulating Ether (ETH) until he has enough money to buy a giant boat. The creator of the marketplace emphasized that he was still in control.

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