5-7 Year Bitcoin Holder Number Reaches New High: Details

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5-7 Year Bitcoin Holder Number Reaches New High: Details
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Number of long-term Bitcoin investors reaches new high despite crypto market's 40% plunge

As additional on-chain data suggests, the number of mid- and long-term Bitcoin holders has significantly increased on the chain since 2017. Back in the"ICO-era," the majority of market participants were in it for short-term gain rather than the fundamental value of the With the further evolution of the industry and institutional adoption, more private investors have started using cryptocurrencies as a way of conserving funds during high inflation periods or as risk exposure tools.

At press time, Bitcoin is trading at $38,000 and remaining on a series of positive trading days. But as market data suggest, the majority of traders are currently staying off the market while waiting for significant movements on the stock market.Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.

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