TipRanks made a statement. According to it, on-chain signals stay bearish for BTC. 62% of wallets have carried BTC for one year and over. 32% of wallets are held for a month up to a year. Ultimately, those who have held for less than a month are just 6%.
Apart from holding, the site also revealed its profitability analysis in holding Bitcoin. As stated in the data, among the present holders, 48% are in profit while the exact amount of holders is in losses. The data also emphasized that the remaining 4% are neither in profit nor in a loss.
While Bitcoin’s price has recently undergone several dips, nearly a quarter of the circulating supply remained in wallets. On Aug. 18, on-chain metrics revealed that 24% of BTCs remained unchanged for a minimum of 5 years. This indicated that long-term holders have no intent to sell, particularly during a bear market.
Researches Reveal
A recent poll by market research platform Appinio displayed that 55% of crypto investors kept onto their crypto investments despite immense sell-offs within the crypto market. Among the poll participants, 40% think Bitcoin is still the most profitable investment opportunity in the following three months.
Meantime, Zach Burks, the creator of NFT marketplace Mintable, has lately shared his crypto journey and trading strategy. Burks wants to keep piling Ether (ETH) until he can buy a yacht. The marketplace creator emphasized that he is still holding.
