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Zain Raza
May 28, 2020
by Zain Raza

60% of Bitcoin Holders not Moving Funds; Waiting For a Bitcoin Boom

Bitcoin holders
As they say, hope is a good thing and a good thing never dies, it seems bitcoin holders are hopeful that grand bitcoin days of 2017 are on the cusp once again.  A one year plus data from Lookintobitcoin suggests that 60% of the top cryptocurrency holders have not touched their bitcoin and are HODLING it. The last time this was witnessed was in 2016, a year before bitcoin halving.

It is safe to assume that the bitcoin holders are following the same pattern this year, expecting it to produce the same substantial gains as witnessed In 2017 when bitcoin soared to $20,000. Post bitcoin halving, there's a lot of faith in bitcoin boom and this could be the only valid reason for more than half the holders to not tamper with their funds.

The belief of The Bitcoin Holders 

Bitcoin was lingering around $700  mark at one point and 17 months after the bitcoin halving in June 2016 it touched $20,000. This mere fact is being perceived as the reason behind such resolved shown by the bitcoin holders who believe that another price surge is on the cards, even if there's nothing that guarantees it.

While 60% of the community hasn't touched their fund, the price surge expectation runs throughout the community. However, so far the recent bitcoin halving hasn't delivered any results, the bitcoin holders remain patient that it will soon start influencing the price. Some even believe that price will fall in the first few months after the halving and elevate to a height not seen before.

Bitcoin has been unable to break through the $10,000 for a while now as it has kept fluctuating between  $8000 to $9,600. The observers' belief is that once it goes past the $10,000 barrier it would show no signs of stopping. The 60% bitcoin holders who have shown patience for over a year now, would certainly hope that it pays off. 

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    60% of Bitcoin Holders not Moving Funds; Waiting For a Bitcoin Boom
    Zain Raza
    Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

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