The Best Way to Secure Profits When BTC Market Enters HODLing Period

Saturday 17 October 2020, 6:23 AM AEST - 6 days ago

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Bitcoin, what once believed to be a bubble by many investors, has shown resilience in a series of black swan events and proved its worth as a profitable asset. Bitcoin has gained wider adoption over the years, with institutional investors such as Grayscale and MicroStrategy adding it into their portfolios. Recently, Jack Dorsey-led Square Inc. purchased 4,709 BTC to add to company reserves. When the news was released, bitcoin gained 4%.

Retail investors are also accumulating more BTC for the past few months. According to on-chain analyst Willy Woo, an indicator calledreflexivity indicates that hodling activity is rising steadily: Reflectivity is increasing over each macro cycle! This is the tendency of HODLers to hold onto their coins harder as price increases.

One reason for the increased interest in hodling BTC could be that investors are anticipating a massive rally in 2021, which would be interpreted as a post-halving rally. If history rhymes, bitcoin would have a big rally 12 to 15 months after the halving event. At the first halving, Bitcoins price surged from $11 to over $1,100 in one year. As for the second halving, the price soared from $600 to $20,000 by the end of 2017.

The road to the bull rally is expected to be rocky, with investors being spooked by spiking COVID-19 cases and global conflicts. But with an interest-bearing wallet, you can easily grow your investment while waiting for the bull run.

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