By: Eliza Bennet
In a fascinating recent development, early bitcoins, popularly known as Satoshi Era bitcoins, have shown remarkable market activity. This occurrence merits a comprehensive understanding of the inclination and behaviors of Bitcoin investors. For instance, the trend of long-term holding reflects a shift in investment strategies. This concept is encapsulated by a term called 'diamond hands' used for investors who maintain their hold on an asset despite market volatility.
Around 1000 Satoshi Era bitcoins were sent to trading desks recently, a transaction that refreshes the significance of bitcoins mined during the initial stages of Bitcoin's network. A salient observation involved the data indicating that 31.3% of Bitcoin's total supply has remained dormant on-chain for over five years. This period coincides perfectly with the bearish phase of the Cryptomarket in 2018, further accentuating the concept of 'diamond hands'.
The phenomenon of investors retaining their Bitcoin despite a lucrative shift towards profit radiates their faith in Bitcoin's ultimate value. This belief is only bolstered by Bitcoin's impressive year-to-date return of 160%. Understanding the nuances of these factors can help us anticipate future market trends and behaviors of various investors in the crypto market.
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