According to Cointelegraph: Bitcoin investors from last year's bull run, often referred to as HODLers (a term derived from a misspelling of 'hold' that is used in the crypto community to refer to people who hold onto their cryptocurrencies rather than selling them), are proving their resolve, maintaining their hold on their assets. Statistics from the Bitcoin HODL Waves metric show that those who acquired Bitcoin toward the end of 2020 still hold onto their coins.
HODL Waves are a concept used to gauge the age of Bitcoin held by investors. Bitcoin falling within the 2-to-3-year category has seen the most growth over the past year, revealing that investors who bought Bitcoin from December 2020 to December 2021 have primarily resisted the temptation to sell for profit. As a result, this group now controls over 15% of the total Bitcoin supply, up from around 8% in December of the previous year.
Despite year-to-date Bitcoin gains amounting to 165%, long-term holders' resilience is noteworthy. Philip Swift, creator of the analytics source Look Into Bitcoin, which hosts HODL Waves, has often commented on this phenomenon, predicting that long-term Bitcoiners aren't likely to sell their coins until the price rises significantly higher.
However, short-term holders or speculators have exhibited a contrasting behavior, with a recent increase in profit-taking observed over the past week. According to on-chain analytics firm Glassnode, as of Dec. 6, these long-term holders controlled nearly 14.92 million BTC, just slightly below the all-time high of 14.95 million BTC witnessed on Nov. 28.
