Bitcoin Long-Term Holders Are Still Selling At Loss: Glassnode
If you’re a Bitcoin holder, you’ll know that it isn’t for the faint of heart. Even long-term holders are selling at a loss, according to crypto intelligence platform Glassnode.
It all started back in 2017 when the crypto market exploded and many jumped in on the bandwagon in pursuit of tasty returns. Now, nearly 3 years later, there is still some pain to be felt – even among long-term investors.
The Ugly Numbers
According to Glassnode data, the number of Bitcoin holders who held their coins for more than 3 years but have since sold them off is at an all-time high. This means that a lot of those who joined the bandwagon in the peak of 2017 are now selling at a loss.
Those who wanted to make a quick buck are probably feeling the most pain. That being said, there is also a large group of long-term investors who got in during 2017 that are selling off for a range of other reasons.
Holding Onto Hope
Although it’s a pretty ugly picture for Bitcoin investors, there is still some hope. Long-term holders are not giving up just yet – the number of Bitcoin holders who have held onto their coins for over five years is on the rise.
This is a sign of faith in Bitcoin despite the recent price drops, and it’s an indication that better days may still be ahead.
What Now?
Whether you’re a long-time enthusiast or a new investor, it’s always important to strike a balance between risk and reward. Here are a few tips to help you make the most of your cryptocurrency investment:
- Research: Don’t jump into anything you don’t understand. Make sure to do your research on the project and the team behind it.
- Set Limits: Don’t put more money in than you’re willing to lose. Set investment limits that reflect your risk tolerance.
- Diversify: Don’t put all your eggs in one basket. Despite the recent slump, Bitcoin is still a good investment – but don’t limit yourself to just one coin.
At the end of the day, cryptocurrency investment is no joke – and neither is the old adage, “buyer beware”. It’s more important now than ever to be informed and careful with your investments. So just hang on tight and keep your fingers crossed – here’s to better days ahead!
