The number of Bitcoin investors is growing fast
As Bitcoin’s price climbs, the number of Bitcoin investors is rising too.
As Bitcoin’s price climbs, the number of Bitcoin investors is rising too.
Bitcoin hodlers are multiplying at record levels, according to crypto research firm Santiment. The data shows a current uptick in new hodlers, meaning more people are holding BTC for the long term. This is happening at the fastest pace since early 2021. Back then, the signals were green too, which helped Bitcoin climb to a record high of 69,000 US dollars.
As Santiment notes in this context observed, the number of people who hold Bitcoin for the long term is currently at 45 million. For comparison: the number of Bitcoin hodlers stood at 38 million at the end of April 2021.
What does this mean for the Bitcoin price and the crypto market?
From these figures, one thing is clear: the number of Bitcoin and crypto fans is growing. The rise of more long-term hodlers signals a sustainable trend.
In this context, the growing number of long-term investors can be read as more people choosing the orange pill out of conviction rather than relying on short-term speculation. That doesn’t erase the existence of the latter. For the Bitcoin price, the current developments can be viewed as a positive signal.
Now may be a good time to hold BTC for the long term. Bitcoin broke through the $30,000 mark on April 11. With this bullish breakout, the cryptocurrency isn’t just about 6.22 percent above the 24-hour level. In fact, BTC has gained more than eight percent over the past week. In the monthly review, there’s a gain of 46.64 percent that Bitcoin hodlers can look forward to.
