Despite ‘worst bear market ever,’ Bitcoin has become more resilient, Glassnode analyst says
Sean Patterson
1 month ago
Altcoin Watch, Argo Blockchain, attack, Avalanche, AWS, Bankruptcy, binance, Binance Coin, bitcoin, bitcoin analysis, bitcoin mining, bitcoin price, Brian Barnes, BTC Markets, business, Capitulation, cardano, CBDC, Core Scientific, Crypto trading services, cryptocurrencies, Cryptocurrency Exchange, cyber attack, Cybercrime, Dogecoin, DPRK, Ethereum, Ethereum 2.0, GameStop, glassnode, hacking, Helium, HODL, inflation, Interest Rate, Interest Rates, Iran, KYC, Lazarus Group, Lending, Liquidity, liquidity providers, LP, M1 Finance, Market Analysis, Market Update, Markets, Metaverse, mining, nft, Pie investing, Playboy, Playboy NFTs, polkadot, Price analysis, Proof-of-Stake, Riot Blockchain, Ripple, Shiba Inu, Solana, Storytelling NFT projects, texas, The Sandbox, Token, Uniswap v3, validators, Voyager Digital
15 Views
While the current bear market may be the worst on record, on-chain metrics signal that the Bitcoin (BTC) network is becoming increasingly resilient, said Glassnode analyst James Check during a recent interview with Cointelegraph.
In particular, Check refers to the amount of Bitcoin holders who don’t sell even in extreme market conditions, which has become much higher than in previous bear markets.
“Cycle after cycle, that floor of hodlers is higher, the amount of activity is higher,” Check said.
Check also points out that shrimps, the entities who hold less than one Bitcoin, are accumulating at a record pace, surpassing the levels of the 2017 bull market’s peak.
“The shrimp are essentially seeing this is a an immense period of value,” he explained.
Check out the full interview on our YouTube channel and don’t forget to subscribe!
