 | I'm not a big on chain person because there's plenty of metrics you could use to skew the story toward your own bias, but there's this one that I like to look at from time to time to see where people are in their positions of Bitcoin. Purely data, nothing more or less. Stick to your own plan, and think long term for the highest chance of success. The HODL wave chart in its simplest form show what percentage of the total circulating supply of Bitcoin belongs to different holders based on how old the address is. Here is a chart showing addresses in which started to accumulate Bitcoin that are quite young, anywhere between 1 day - 3 months old. Keep in mind on chain data can easily be manipulated, for all I know this could just be new addresses created and transferred from another wallet. As you can see there's a clear pattern, they usually start showing up when we're near peaks and all time highs. Short term buyers maybe, which hear about Bitcoin and FOMO in. On the other hand, here is a chart which shows what older addresses are doing (1 year to 10 years old). As you'd probably guess, it's inverse to young addresses. Accumulating when the market is boring and down, and taking profits when we're near peaks. Pretty much it, I thought it's something interesting to see regardless of if it's manipulated information or not. As you can see by the waves of older addresses, we could be in this boring sideways or down market for a while. But that's not stopping them from sticking to their plan. I got this chart from a website called whalemap by the way, feel free to check them out here: https://whalemap.io/ [link] [comments] |
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments