Bitcoin price reaching new highs is always exciting. Crypto community celebrates, HODLers HODL, and the “specialists” calling for Bitcoin death are taking a break to lick their reputation’s wounds (don’t worry, many will reappear when the next correction comes).
It is also the time when many people are considering buying crypto for the first time in their lives, and quite naturally they face a hard dilemma: buy now at all-time high and risk to face the price dropping or wait and maybe buy at a lower price.
The truth is that noone knows what Bitcoin price is going to do tomorrow… but many, DCenter included, believe that in the long-term it will be going up (its impressive $1.2Tr market cap is still 10x smaller than gold’s…)
Onchain data by Glassnode confirms this reasoning: long-term holders (addresses that haven’t moved their coins in 12 months) are accumulating bitcoins, now owning 80.8% of Bitcoin supply (they spent only 0.73% during last all-time high of $66k).
Only 6.5k BTC are now being moved on a daily basis, which is not much comparing to the 2017, 2019 and 2021 bull runs, when over 20k BTC were revived per day.
Centralized exchanges’ supply gives another confirmation of the accumulation trend: their BTC balances have been depleting for many months now, now hitting a record low of 12.9% of circulating supply.
All this gives a positive outlook for Bitcoin, and while not giving a financial advice, we think that it is not too late to buy Bitcoin. We are just starting ?