Bitcoin Holders Hesitant to Sell Despite Price Surge

[moneystery]

maybe they see that now is not the right time to sell their bitcoin because now it is just a normal bull trend that is not yet strong, so they hold back and wait for the right time to sell their bitcoin to the market. moreover, the prediction that Bitcoin will increase drastically and could pass its ATH in the upcoming halving is enough to make people optimistic that waiting is the right decision for now.

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[AicecreaME]

They're not happy with the profits if they are going to sell now, that's why. People are always greedy, and there's nothing wrong with that since there's another all time high coming, we just don't know when. Also, there's no need to sell your bitcoin holdings if you don't need it for something, unless it is very important and you need extra money. Other than that, I don't see why people should sell their Bitcoin holdings just because the price pumps.

[btc78]

most, if not all, long-term investors invest in bitcoin

bitcoin has proven itself in terms of value and we are confident that it’s still going to incline in the next few years, nothing wrong with holding btc in fact most people would recommend for beginners to have a long-term outlook when investing in bitcoin

patience is definitely a virtue one should have in investing especially if you plan on investing for the long-term

[AnonBitCoiner]

they don't hesitate to sell but they have a target above 60k$ to sell their bitcoin . for now the price is not much unless people who bought when btc was at 25k$ have reaped the rewards of their patience, keep holding on until the new ATH because everything will be satisfying

That's true people have set their target therefore they don't sell their bitcoin until the time comes when they achieve their target. If someone buy bitcoin at 69k$ then definitely he will wait for bitcoin to cross this price once again and the price of 37k$ is very small as compared to 69k$. No one hesitate but its a matter of profit and people buy bitcoin only due to their hope for getting more so when they see dip in price then there will be no point of selling for them as target achieving require huge timing.

This time is not good for selling your bitcoin even the price is higher because we cannot miss the opportunity to reap the benefit from bitcoin investment during halving. Those who sell their bitcoin now will either need their money urgently or will be unaware of coming Bull run otherwise this is a big mistake to sell bitcoin now.

[pawanjain]

That's the way to go. Trust is needed so that we can HODL. Bitcoin is still far from it's ATH price.
This might be one reason why many people are holding it strong because they don't want to sell it below the ATH price.
In one way it's good because this we can reach the ATH price quicker. We all want BTC price to skyrocket.

[Z390]

The simply understand the value of Bitcoin, mind you it depends on what is going on with the holders, some people won't be able to hold for too long because everyone has their problems, it won't hurt to take profits when the price is surging, people need to survive for sure and those who have held for long term are in good shape, something good is already going on for them I believe, I mean you can't be facing hunger and holding something valuable somewhere, you aren't doing it wrong if you take some part of your profits.

I am still surprised that the Binance drama failed to dump the market, not even a slight move to the down side, that's crazy and also bullish, but I am not too confidence that the pain is over, because I don't trust anyone craving for absolute power, and this is what those companies wanting the ETFs approval are after, things will change so much for crypto in the future, the opportunities won't be that much anymore compare to today.

[Alpha Marine]

they don't hesitate to sell but they have a target above 60k$ to sell their bitcoin . for now the price is not much unless people who bought when btc was at 25k$ have reaped the rewards of their patience, keep holding on until the new ATH because everything will be satisfying

Even people who when the price was $25k won't want to sell at this point. Everybody is speculating a bull run soon, some are even speculating a new ATH after the halving, so selling now won't be a wise decision when they can make more profit.
If the bull run has already started, as so many people believe imagine how high it gets from now till the next halving.

I believe that Bitcoin has gotten more trust among its owners, but I don't believe trust alone is the reason for this. People are looking ahead to how much profit they can make if they don't sell now. Besides, the price is climbing so there's no reason to panic. We'll see the real trust when the price is dipping.  

[jeraldskie11]

Investors who didn't sell their Bitcoins are not only they believed in Bitcoin but also they are the ones who can't sell because they bought at $60k price in 2021. I was shocked when I see that 70% of Bitcoin supply were not moved. Possibly, when the price create new ATH there will be a massive dump of price. I believe that lot of them can't wait to sell their Bitcoin.

I am still surprised that the Binance drama failed to dump the market, not even a slight move to the down side, that's crazy and also bullish

I believe people are aware that there will be terrible news that will force them to sell their Bitcoins, but since they believe in ETFs and the approaching halving that will help the price to rise, they will not sell.

[serveria.com]

I think The amount of unused Bitcoin which is now at its highest ever at 70%, shows that people who own it don't want to sell, even when the price goes up. This Bitcoin hasn't been used for over a year. Since Bitcoin reached its highest value in 2021, people who plan to keep it for a long time have shown they really believe in it, despite problems in the market and with the economy.
Bitcoin Percent of supply Last active 1+ years ago


glassnode
Also the amounts of unused Bitcoin for two, three and five years have also reached their highest levels ever showing that these investors are staying strong. Even though Bitcoin's price went up a lot this year to $37,000, the owners don't want to sell it soon. Reflexivity Research thinks selling Bitcoin right away is not likely, even though it's worth more now. But when Bitcoin becomes available in new investment ways like ETFs and futures things might change and the situation might be different details

That's good news, it means more and more people start to understand how Bitcoin works and they know what is coming next. But I guess this is also partly due to ordinals/brc20 token spam and enormous fees.

[ZAINmalik75]

I think The amount of unused Bitcoin which is now at its highest ever at 70%, shows that people who own it don't want to sell, even when the price goes up. This Bitcoin hasn't been used for over a year. Since Bitcoin reached its highest value in 2021, people who plan to keep it for a long time have shown they really believe in it, despite problems in the market and with the economy.

This data from Glassnode only shows the time span of holdings of these BTC, which ranges from 1 year to 5 years. But it was not said, or you might not have noted, that the data is only about holdings. What about those wallets that are forsaken by their owners, and some of them remain untouched because maybe their owners don't have access to the funds anymore? These two reasons would be considered valid for the answer of why they are not selling and when they are planning to book the profits.

Because in 2021, when BTC was making its all-time high of 69,000 dollars, many people did not book, which might be because they had no access to their funds, or some might be thinking that BTC could touch $100k, or they could have any other target in their minds to achieve, and in order to get them, they did not book profit and exited the market, and then the market came down and they got stuck in it.

In my opinion, this is not a good approach because if you are planning to sell a thing where there will be fewer buyers to buy it due to its expensiveness, then you might face problems getting a legit buyer.

[KingsDen]

Such an interesting chart. This shows alot of things and among which is that people have started to;
Believe Bitcoin:
Before now, not many people believed in bitcoin as a currency. Rather many people jumped in to be early beneficiaries before the bubble will burst. So, those kind of people sell at any slight panic.
Understand bitcoin:
Before now, only a few people understand the things of bitcoin such as FUD, FOMO and they use these tools to manipulate the common people. But as the technology is advancing, many people are becoming aware of these manipulative tools and no longer fall for them.

[The Cryptovator]

Hold tight, one of the main reasons why bitcoin raising continues. Assume most of the holders are holding Bitcoin for upcoming ETF news. They want to take advantage of the upcoming volatility for ETF approval. On the other hand, Bitcoin halving is quite near, and a massive pump is expected in this situation. Holders don't want to miss the train when Bitcoin starts bullish. Though I am expecting to buy in the $30K zone, I am not sure if it will reach those points.

[tjtonmoy]

HODLING is the key and now people are starting to understand that. They have learned from their past mistakes and now they are starting to believe. They have made up a plane and they are sticking to it. This really shows the dedication of hodlers. Despite the volatile market and many opportunities to grow their asset's value in the short term, they are now focusing on the long term after realizing the bigger picture and the potential hodling holds.

We need to learn from this. This is a great example of what a newbie should do. I am not suggesting that they should follow or copy them entirely. Instead, they can make up their own strategy based on this. Also, the halving event is coming near day by day and it is still not too late for us to accumulate more BTC and hodl. To the moon, we go. The bull run will bring a great opportunity for those strong Hodlers to finally pack some profit from their long hodlings.

[nakamura12]

There are some people who doesn't have lots of BTC or you can say they only have decent amount or small amount compared to those who have lots of Bitcoin. Reason that I can think of why some people doesn't want to sell or use their Bitcoin is because of transaction fees getting higher and other reason is they are looking for much higher price before they can sell for profit or use to buy something because I would also done the same.

[Sanitough]

 There's no point of hodling their bitcoin for long term if they suddenly sell when their price expectations are not met yet, except for unforeseen emergency cases that badly needs bitcoin profits so you have no choice but to sell it early. And I think as long as you sell for profits, then that's good to go. However, if there are no barriers to continue long term hodling, that would be better as you will surely reap the profits that you deserved.

With this, I see that most bitcoin hodlers these days have become more open to the possibility that bitcoin continue to appreciate its value in time. So the more years they will hold bitcoin longer, the more satisfying the income will be. Patience and persistency are the keys.

[batang_bitcoin]

It's because that we're about to see the halving in the next few months next year and that's why many are hesitating to sell their Bitcoins.
The effect of it is going to be greater and the price is believed to be higher than that when we're done with it. The cycle and the thought of what can happen next afterwards is what making most of us to hold a little bit longer and we're not willing to sell at any point, at least selling in bulk.

[Promocodeudo]

In general when any commodity gains in price, there will be much hodlers of such goods, the reason is because such holdlers mindset is that that particular commodity will keep appreciating in price, this is normal if it happens, they do this in case is this commodity eventually rise to a price that satisfies their curiosity, at this point they can sell a little and accumulate more too, this is attribute to Bitcoin market too, so many holdlers are not ready to sell now because they see it as a premature decision to sell, they still believe that bitcoin will still appreciate more in price no matter what, they just see this period as the beginning of Bitcoin upsurge and an opportunity to accumulate more.

[Viscore]

 You know that's individual's choice especially if the bitcoin hodler is up for something bigger and more profitable. Smart bitcoin investors do not compromise their profits if they decide to sell, but when they do, they make sure that those profits will be utilized well even if the highly desired profits fail to achieved.  Most probably, bitcoin holders unable to decide well when it comes to selling because they know already the potentials of bitcoin, that its more ideal when left hodling as it attract more profitability in the making.

[Bananington]

For me, I think the halving is a major event all BTC enthusiasts are looking forward to. All long term investors must have anticipated this event and are HODLing long term till another bull season where it would be more profitable to liquidate some asset if need be.

The price of BTC right now is quite high and even if whale movements tend to want to affect the market season, it would hold little sway.

[oktana]

By unused, I believe you mean dormant, and that is how we refer to wallets that haven’t transacted in a long time. Do not forget that the owners of the wallets may not necessarily be intentionally waiting for let’s say when Bitcoin is $100k. They could have lost their private keys/mnemonic phrase and hence, the stagnation of the wallet.