Bitcoin HODLING Has Been Rapidly Rising Since the End of March

written by

Bitcoin HODLING

Support free journalists: > send a tip

  • On-chain data indicates Bitcoin HODLING has been rising at an unprecedented rate

Retail Bitcoin investors have been in a buying frenzy for weeks according to on-chain data. Specifically, data from Glassnode’s HODLER Net Position Change metric shows that Bitcoin HODLING has been rising at an unprecedented rate since the end of March.

This buying frenzy is probably being driven by a couple of factors. First off, Bitcoin’s price crashed in March to as low as USD 3,850, which is a drastically undervalued price for Bitcoin, and investors rushed in to buy up Bitcoin at those severely undervalued prices.

Also, the Bitcoin block halving is just 15 days away now, and a major Bitcoin rally is anticipated since the halving will drastically reduce selling pressure on the Bitcoin market, due to the amount of Bitcoins mined dropping 50% from 12.5 Bitcoins every 10 minutes to only 6.25 Bitcoins every 10 minutes.

Zooming out, no matter the reason, a significant jump in crypto HODLING almost always indicates that a crypto rally is about to happen.

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

Help spread this article :)

BitcoinNews.com is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

   Advertisement

Latest on Bitcoin News

   Advertisement