It is festival season for Bitcoin and it is getting pushed and supported to touch its next best high. The BTC price increased by 3.5% recently and it went back down. There are lot of investors who are Holding Bitcoin, and more of them are able to support the idea of supporting the primary ancestor all tokens.
Reportedly, the researchers at a Crypto Market data company by the name, Crypto watch have expressed: “Bitcoin’s 1-year HODL wave—BTC unmoved on the blockchain over the last 365 days—has hit a new all-time high of 63%. Bitcoin’s HODL wave is up 1% since the start of July.”
The last time when so many of HOLDers went long in their position was way back in early 2019. It was the time period when the BTC reportedly went up by a 250% creating the biggest hype of all times.
At the time of writing, BTC has been trading at 11,692.70 United States Dollar 1 Aug, 8:44 am UTC. This is a significant number for those who have been holding the coin after having bought it when it was low. This will be the biggest July gain if it holds. Bitcoin Promising Again.
This price might change before you come back from your coffee break, nap, sleep or dinner, but the movement is indicative of the fact that unlike several people who have to state that “Bitcoin is Dead.” This is proof enough to show that BTC is very much alive.
Sydney Ifergan, the crypto expert stated: “That is a 28% a bit up and down in gain with the 11,692.70 United States Dollar 1 Aug, 8:44 am UTC number. Time to get the bags ready.”
Those who are good at the art of making hay while the sun shines do know what is good about the current moment.
Bitcoin (BTC) in the Panicked Age
Forbes mentions that this is a panicked age. The need for a good store of value is increasing. The Bullish trend of Bitcoin is promising. Of note, there was increased miner sales early this week. The technical charts are also promising good times for BTC holders.
A small decline is something that cannot be ruled out; however, the promise of value is here to stay.
There are several stores of value, it is liquidity that matters. One asset might not equal the other. However, the point to be noted is that the Bitcoin has a merit of its own.
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