Analyst Will Clemente believes that long-term holders of BTC will not take profits at $50,000.
According to the analyst, investors are not exhibiting behavior similar to the rebound from December 2017 to January 2018.
During the 2017 “dead cat bounce,” there was a massive sell-off by market participants who had not moved their coins for at least 6 months. In fact, we are not seeing the same behavior at present, which could be a signal to continue the run. Long-term holders are currently sitting and not selling.
Clemente estimates that hodlers are holding 12,674,515 BTC, which is 67% of the current market supply.
Stablecoin volume on cryptocurrency exchanges also indicates increased interest from large investors. Over the past few weeks, Tether has printed another 4 billion USDT.
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