A Glassnode Report revealed somewhat discouraging metrics for Bitcoiners as the Crypto Winter persists, causing digital assets to plummet by surprising margins. The report disclosed that the current bear market has shaken off most short-term BTC investors, leaving long-term HODLers as the last line.
There appears to be a prevailing exodus of short-term BTC investors
In the Glassnode onchain newsletter for the week dubbed “The Expulsion of Bitcoin Tourists,” data revealed that Bitcoin’s performance for June was one of the worst recorded performances in the history of the digital asset as the asset dipped by 37.9%.
This performance had only been witnessed once since the inception of Bitcoin: in the crypto winter that hit the asset in 2011, a point when BTC had not received much public appraisal or seen general adoption and traded below the value of 10 against the dollar.
The prevailing exodus of short-term investors, otherwise called “tourists,” can be tied to this abysmal...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...