As the Bitcoin price increases, so does the number of Bitcoin hodlers. This is bullish news.
Bitcoin hodlers are multiplying at record levels, according to figures from crypto research firm Santiment. Accordingly, the crypto market is currently experiencing an increase in new hodlers, i.e. people who hold BTC for a longer period of time, as fast as they were last at the beginning of 2021. At this point in time, too, the signs on the crypto market were positive – it should end with the Bitcoin price would climb to its all-time high of just under $69,000 on November 10, 2021.
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As Santiment notes in this context , the number of people who hold Bitcoin for a long time is currently 45 million. For comparison: At the end of April 2021, the number of Bitcoin hodlers was 38 million.
What this means for the Bitcoin price and the crypto market
Only one thing can be deduced from these numbers: The number of Bitcoin and crypto enthusiasts is constantly increasing. However, the fact that more and more long-term hodlers are entering the market speaks for sustainable development.
In this context, it can also be assumed that the increasing number of Bitcoin long-term investors indicates that more and more people are taking the orange pill out of conviction instead of relying on short-term speculation. That doesn’t mean that the latter no longer exist. However, the current developments can be seen as a positive signal for the Bitcoin price .
The moment to stay in BTC for the long term seems opportune right now. Finally, in the morning hours of April 11, the cryptocurrency was able to break through the $30,000 mark . With this bullish breakout, the cryptocurrency is not only trading 6.22 percent above its level of 24 hours ago. Rather, BTC was able to gain more than eight percent in the past week. In the monthly review, however, there is a 46.64 percent profit that Bitcoin hodlers can look forward to.
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