Long-term bitcoin holders control 80% of the cryptocurrency

According to Glassnode, 80% of bitcoin turnover is in the hands of long-term holders (LTH).

As experts have found out, most of the flagship cryptocurrency is controlled by LTH — Long-Term Hodlers (80%), while the rest of the supply is held by short-term holders STH — Short-Term Hodlers (20%). Long-term holders are investors who have been holding cryptocurrencies for at least 6 months. Long-term hodlers usually invest in cryptocurrencies during market downturns, expecting to make a profit in the long run. It is LTHs that usually create strong support for the bitcoin market bottom.

According to Glassnode experts, the total number of bitcoin addresses ever created has exceeded 1 billion. According to analysts, such a large number of bitcoin addresses should be interpreted as «positive sentiment about the future of BTC.» At the time of writing, bitcoin is trading at $ 22,339. Experts emphasized that one user often owns several bitcoin addresses, usually to maintain confidentiality: investors carry out each new transaction at a new address. However, earlier this year, the number of bitcoin addresses exceeded 40 million for the first time in history.