For the Bitcoin community, which are used to massive swings in the price volatility, there has always been one strategy that is seemingly fool-proof: ‘Hodl.’ Hodl means to hold onto your coins, and based on Bitcoin’s history, it cannot be beaten.
However, there is one big caveat with that as holding onto your coins is only unbeatable when taking into consideration that Bitcoin began its price journey at a couple of cents, and in its over ten-year history has risen astronomically in price.
So, because the coin started at near zero, and is now far away from that point, history has shown that long-term growth for Bitcoin is a safe bet. Now, not everyone is Satoshi and was around to accumulate coins when they first were produced, but still, a large portion of Bitcoiners are still happy with this method.
According to information from popular Twitter analyst Rythmtrader, as many as 11.5 million Bitcoin has not been moved in over a year. This is an impressive figure considering that the amount of circulating and available, coins numbers near 17 million.
More so, it shows that a large swath of the Bitcoin population are not easily tempted by get-rich quick trading with their Bitcoin, nor are they willing to use the coin as currency – which is a big drive at present.
It was also calculated by Rhythm that during the last year, the price of the coin had raised as much as 85 percent, and yet these coins have not been sold off as the ‘hodlrs’ remain, hopeful for an even bigger price boost in the future.
It could be that there is a ‘hodl’ sentiment at the moment based around the fact that Bitcoin’s reward halving is incoming, and with that, there is a much-anticipated price movement expected. Although, some voices are saying this may be overhyped.
What is more impressive to note with these ‘hodlrs,’ who have locked up 64 percent of all the Bitcoin supply currently going, is that they had a chance to make some serious money if they timed their sells right, but chose not to.
The price of Bitcoin was at a real low of $3,100 last December, but six months later hit near $14,000, which would have seen returns of around 450 percent.