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Number of Bitcoin Long-Term Holders Now Holds 12M BTC Amid Growing Confidence Among Investors

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Traders’ confidence in Bitcoin’s prospects surges.



The number of Bitcoin long-term investors has surged to a new all-time high (ATH) as more people continue to set their sights on the future potential of the top asset class, as opposed to shorter gains. 

Data from IntoTheBlock shows that the Bitcoin balance of long-term investors, who have been holding the world’s largest cryptocurrency for at least a year, has hit a new ATH of 12 million BTC today. 

ATH Hodler Balance – Long-term investors now hold a record amount of nearly 12 million #Bitcoin. The long-term conviction of these addresses helps ease selling pressure and can help reinforce the belief of Bitcoin as a store of value,” IntoTheBlock reports today. 

According to the data, most Bitcoins were accumulated between the price level of $15,000 and $55,000.  

This suggests that most of these investors will continue to hold the asset class because it is trading below their purchase price. 

Earlier this week, Bitcoin brought joy to the faces of many investors as the cryptocurrency surged above $47,500, its highest value since the beginning of the year. 

The cryptocurrency suffered a slight retracement earlier today as it traded around $44,300 in the early hours of today. 

However, traders did not seem shaken by the slight dip as many saw the price dip as an opportunity to add up to their Bitcoin holdings. This is in contrast to traders’ attitudes during the commencement of Russia’s invasion of Ukraine

Following the declaration of a full-scale invasion of Ukraine, Bitcoin’s fear and greed index fluctuated between 25 and 20, indicating extreme fear, as BTC dipped below $33,000 then

Interestingly, the days of extreme fear are behind investors, as the BTC fear and greed index has surged tremendously since February. It is currently at 50, indicating a neutral behavior of the world’s largest cryptocurrency. 

 

At press time, BTC is trading around $46,500, up 1.5% from what was recorded in the last 24 hours. 

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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