Bitcoin Long-Term Holders囤币惜售 Market Will See Major Price Momentum in Q4 This Year and Q1 Next Year

The chart, shared by the cryptocurrency expert in the X platform, reveals that Bitcoin long-term holders are no longer interested in selling their assets.

The price of Bitcoin has just hit a monthly low of $56,567.10. In the last 24 hours alone, the price has dropped by over 6.2%. At this rate, the price is likely to continue decreasing.

Recently, there were reports that short-term Bitcoin investors were leaving the market in droves. Have Bitcoin investors completely lost hope in the market? Not quite, according to several experts.

A Realised Cap-HODL waves chart of Bitcoin, shared on X by Binhdangg, seems to tell a different story. Let’s take a closer look.

Bitcoin Long-Term Holders’ Market Behavior: What the Chart Shows

The chart, shared by the cryptocurrency expert on the X platform, shows that Bitcoin long-term holders are no longer interested in selling their assets. What does this mean? At the moment, long-term holders find holding to be more beneficial than selling. So, is Bitcoin currently in a holding phase? It certainly seems that way, according to the chart.

It appears that long term traders are very confident in Bitcoin and are expecting to see a bull run in the market soon. It is clear that experienced Bitcoin traders now hold a view about the market that is completely opposite from the general perception of the market.

Bitcoin Current Pattern Analysis: What Expert Says

The expert believes that the pattern that we are seeing now in Bitcoin is similar to what was observed between mid-2019 and mid-2020. If the current scenario can be interpreted as a period of stability, then a price momentum is about to hit the Bitcoin market. At least, that is what our past experience suggests.

When looking at #bitcoin Realized Cap-HODL waves, LTHs stop the distribution and return to the holding phase. This was similar from the middle of 2019 to the middle of 2020. This means experienced men do not rush to run out and keep their beliefs about the cycle, not the end at… pic.twitter.com/KizJYTgpmE

What’s Next in the Bitcoin Market

The expert predicts that the Bitcoin market will see major price momentum in Q4 of this year and Q1 of next year. He emphasizes the unpredictable nature of the market, highlighting the fact that real market action occurs when least expected.

In conclusion, if the situation unfolds as suggested by the expert, long-term traders stand to benefit greatly from the Bitcoin market.

Also Read: Bitcoin Selloff: Why Major Institutions Are Selling Bitcoin

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