On-chain analytics reveals an increase in the number of BTC HOLDLers who anticipate a bull rally in the first quarter of next year.
The current price activity of bitcoin is showing an increased level of accumulation activity than older bull trends.
Insights from analyst Willy Woo reveal that BTC's reflexivity has been on an upward trend in the past few months. Reflexivity measures the tendency of investors to hold their digital asset as its price increase instead of selling.
Major Updates:
- There's a tendency for If BTC to pump in 2021 because it usually rallies within 15 months of the previous halvings.
- Investors may be strategically holding their coins in anticipation of a bull run like last year's.
- Bitcoin resilience has been remarkable through the series of unfortunate events, including the COVID-19 pandemic.
Industry experts strongly believe that the U.S election will positively impact bitcoin, and the HODL trend could float its price.
CEO of Three Arrow Capital, Su Zhu, stated that either Trump or Bidden triumph would positively impact because they are both bullish on BTC.
Are you also bullish about Bitcoin in 2021? Let's discuss in the comments.
Source: Cointelegraph.
