Bitcoin price is at a pivotal moment, about to potentially confirm a break out into a new bull market. Yet for some reason, <span class="wpg-tooltip-term-title">Coin</span></h3><div class="wpg-tooltip-content">A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/coin/">» Read more</a><p></div>”>coin dormancy, what one analyst calls a measure of “old hands” selling, is reaching a high level currently.
These holders sold the Bitcoin bottom fearing lower prices, but why then are these same “old hands” selling again now with a rally on the horizon?
“Old Hands” That Are Anything But Weak Chose Now To Sell Bitcoin, But Why?
The cryptocurrency market is a wild west of weirdness, where food-named tokens skyrocket, then fall to zero, and exchange CEOs are the target of chief financial regulators.
Terms like “HODL” are commonplace, an acronym for “hold on for dear life.” Those that have been through the <span class="wpg-tooltip-term-title">Bear</span></h3><div class="wpg-tooltip-content">Bear market is defined as a decreasing set of prices for various types of assets. A bearish investor wants to profit from the movement of dropping prices. You can think of a bear, swinging his big paw downward on the investment, crushing prices.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/bear/">» Read more</a><p></div>”>bear market, have “strong hands” while “weak hands” like Barstool Sports founder David Portnoy sell at the first sign of trouble.
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