The Halving of Bitcoin is each time more near. And while there is a recovery in the price of the criptomoneda, that comes to almost $ 10,000 per BTC once more, it is important to know what they are doing, the major investors in the market. Especially, why the Hodlers accumulate Bitcoins before the Halving?
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The investors in front of the Halving
Things, including Bitcoin, they only have value because we give it to him. Gold, in itself, is nothing more than a metal. Good conductor of electricity and heat, certainly, but not at all with a use that justifies its high cost. However, for most of the world, gold is an asset, a store of value, still this widespread belief that actually gives value to the gold. This applies to virtually any asset in the world. Therefore, even the price of those with proven utility as a food, it reacts according to the beliefs of consumers on the market. And in the case of the crypto market, the ultimate consumers of Bitcoin are investors. Therefore, it is necessary to evaluate the behavior of these investors to understand the general sentiment of the market. So, when there is a massive sale of Bitcoin on the part of major investors, we know that they do not have confidence in the criptomoneda in the long term. Trying to sell their criptoactivos taking advantage of the price of the same.
The Hodlers start to accumulate Bitcoin
That is why it is of so much importance to the fact that investors of Bitcoin are beginning to accumulate the criptomoneda in large amounts, according to data from Glassnode. Following a practice known as Hodling, which consists in the accumulation of BTC waiting for an increase in its price. Which means that if there is a good amount of users doing Hodling, this means that there is confidence in the long-term performance of Bitcoin. The current situation would be a radical change with regard to the behavior of the market only a few months ago. When in February, even in the midst of the rally in the price of Bitcoin of the beginning of the year, the Hodlers left to accumulate Bitcoins, losing the confidence that prices would continue to grow so soon. Restarting its activities accumulation shortly after, then the price of Bitcoin to collapse. Thanks to which investors were able to buy large amounts of BTC at a reduced price. Reaching a peak in the accumulation of the criptomoneda today, with more than 80,000 BTC being saved by the Hodlers each day. Hodlers accumulate more than 80,000 Bitcoin the day before the Halving. Source: Glassnode that, shortly before the Halving in the chain of Bitcoin, shows us the confidence that they have in general investors in an increase in the price of BTC. That being the main incentive for the large accumulation of Bitcoin today. Which could be sold later at a price a lot higher.