PlanB, one of the most popular cryptocurrency analysts in the world, has published a highly-participated survey on Twitter. The survey revealed interesting findings regarding the behavior of bitcoin investors.
Approximately 14 thousand people participated in the survey
Known for applying the stock-to-flow model to the bitcoin market, PlanB conducted an investor behavior survey on Twitter. The analyst, which gave the participants four options, kept the survey open for 24 hours and 13,813 participants voted.
According to the results, 65.6 percent of bitcoin investors are currently adopting the HODLing strategy.
Three out of every four people holding their bitcoin
According to the survey, which reveals that the current number of Bitcoin buyers is higher than sellers, only 3.9% of respondents said that they sold BTC. The biggest reason for sellers to sell BTC is the rising altcoin market in recent days.
While 12.2% of the participants state that they do not have any Bitcoin orders, this group is thought to be composed of people who do not have any relation with the industry or hope to drop the price to jump on the train.
The survey also confirms a previous report revealing that Bitcoin traders are doing more HODLing than what they sell. The report revealed that spot prices have decreased by 28%, although the BTC price has increased 78% since the March sale.
In addition, only 27% of the circulating Bitcoin supply has been reported to move since the beginning of the year. 73% of all existing Bitcoin have been asleep for quite some time.
Everyone is wondering if we are in an altcoin season right now. The recent rise of Dogecoin (DOGE), Cardano’s non-stop strengthening, Ethereum’s preparation for 2.0, and similar developments have caused altcoins to rise in recent days.
However, we must still say it is too early to talk about an altcoin season. Some technical indicators reveal that the entire market could also be severely affected in a possible bitcoin or ethereum drop. In the light of these weak foundations, investors must be more careful.
If you want to know more about the latest altcoin performances, check out our daily analysis.