🔥 Bitcoin On-chain: You're Still EARLY This Cycle 🚨

In this analysis I want to dive deeper into on-chain analytics, namely the amount of the BTC supply that has not moved in over 1-year (read: investors that hold BTC for >1 year).

This metric is important because it gauges the amount of hodlers in the market. Historically, the amount of hodlers always goes up during bear-markets and goes down during bull-markets.

Take a look at the previous three cycles. Hodlers only really started selling after BTC has made a new all-time high.

Seeing that the white line has only just started going down, we can safely assume that we're still early into the real bull-market and that we likely have another 6-12 months of bull period (historically) ahead of us.

Don't worry if you missed the boat on your favorite altcoin, you're still early.