In The News - Forbes.com - The historical significance of Bitcoin halving

Last Time This Key Statistic Hit All-Time High, Bitcoin Saw A 3900% Parabolic Rally

By Joseph Young

The number of long-term Bitcoin holders has been increasing rapidly since October 2019. The last time the level of “HODLing” rose this high, the price of BTC surged from $500 to $20,000.

The term “HODLing” refers to investing in Bitcoin with less intent of selling it in the near-term.

Investors who hold BTC for long periods of time mainly believe that Bitcoin could evolve into an established store of value over the next decade like gold.

The level of HODLing increased in the last two months to figures unseen since 2015 to 2016, when the price of Bitcoin was ranging in between merely $200 to $500.

Alistair Milne, chief investment officer at Altana Digital Currency Fund, said:

“What if I told you that the amount of Bitcoin held without moving for >12 months is on course to make new ATHs (>61%) and barely changed in the March COVID panic ... These levels of HODL'ing were last seen when the price was $200-500 back in 2015/16.”

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