Most people to prefer Bitcoin to stocks, obligations and real estate

Most people to prefer Bitcoin to stocks, obligations and real estate


BTC has been in free fall ever since it recorded an all-time high (ATH) above $ 61,000 over the weekend, and the market continues to see a “weak hands” sell-off.

Long-term hodlers accumulate BTC

Despite the current pullback, Pierre Rochard, a market analyst and Bitcoin advocate, believes that most people will tend to hold BTC compared to investing in assets such as stocks. He explained:

“In the future, most people will just hold Bitcoin instead of investing in stocks, bonds, or real estate. Normal people don’t Want to Waste Time Investing: they just want to keep the money. Only those who are really interested in investing will participate in it.”

He made his prediction at a time when Bitcoin has surged more than 1,200% since it fell to a low of $ 3,800 in March 2020, as the coronavirus (COVID-19) continued to wreak havoc.

At the time, the leading cryptocurrency lost more than 50% of its value in 24 hours as the pandemic sent shockwaves around the world. As a result, there was a shift to cash, resulting in risky assets such as Bitcoin ending up on the recipient’s side.

However, in a year, the story will change, because the best cryptocurrency has become the most profitable asset of the decade.

According to cryptocurrency writer William Clemente III, long-term Bitcoin custodians or holders see the current pullback as a great opportunity to accumulate more BTC as new ones continue to sell. He explained that people who had held Bitcoin for three or more years continued to accumulate it, while new investors who only held the digital asset for 6-12 months sold it in the recent rally.

Bitcoin sees a reduction in the number of holders of huge Coins

The ongoing sell-off could drain the total number of Bitcoin whales, as in-chain data from Glassnode shows that the number of BTC addresses containing more than 1,000 coins just hit a one-month low of 2309, a metric that has become popular in the market among analysts. New participants are particularly interested in it.

However, for those who are familiar with the market, there is usually a major correction after Bitcoin reaches a major ATH, as many of them will seek to lock in profits, which is now almost synonymous with the markets.

Bitcoin investor and teacher Lark Davis confirmed this by tweeting:

“Addresses containing 1,000 or more Bitcoins were being sold, but that doesn’t mean the bull run is over. It simply means that profit-taking is taking place”.

According to CoinMarketRate, after rising to a high of $ 61,781 over the weekend, BTC is experiencing a price correction, as at the time of writing, the leading cryptocurrency is trading at $ 55,348.

Despite the fact that the current price correction is large-scale, about 10.62% below the historical high, the market is less concerned, as the main institutional investors are still in a bull run, helping to protect the market from panic selling.

Time will tell how Bitcoin will evolve in the future as institutional interest continues to grow.