Investors anticipating a resurgence in cryptocurrencies are also looking for opportunities to enter the market with expectations of stability in Bitcoin (BTC) prices. During this period, some BTC investors seemed to be unaffected by the market fluctuations. How did the Bitcoins they own perform?
Bitcoin HODLers and Their Current Status
According to an analysis by Glassnode, Bitcoin investors across various age groups (indicating how many years they have kept their Bitcoins in their wallets) have shown a strong stance in preserving their BTC holdings.
Data reveals that 69.6% of investors who have held BTC for one year have maintained their positions, while this figure was 56.4% for those holding for two years.
Furthermore, the analysis indicated that 43.5% of investors who continued to hold BTC over a three-year period persisted, and this figure was calculated at 31.5% for those holding for five years.
Bitcoin and Its Performance Over Different Periods
The MVRV metric analysis for Bitcoin appeared to be within a consistent trend. During this time, all MVRVs analyzed by Santiment were above zero. The study showed that owners in the one to five-year MVRV categories generally kept their assets profitable, albeit with some differences in profit levels.
Specifically, the one-year MVRV was at 25.4% at the time of writing. To put it more clearly, this could be interpreted as over 25% of investors who bought and held BTC in the last year have maintained their BTC at a profit.
The mentioned group has been profitable since August 2023, with the peak reaching nearly 51% in December, as reflected in the charts.
On the other hand, the two-year MVRV was around 39% at the time of writing. Unlike the one-year MVRV, it rose above zero more quickly during October and reached a peak of over 55% in January.
Lastly, according to the examination, the five-year MVRV ratio was around 38% at the time of writing. Like the two longer-term MVRV measurements, this also settled above zero around October and reached a peak of 54% in January 2024.
These collective MVRV analyses demonstrate that Bitcoin owners who purchased at different time intervals have kept their BTC at various profitable levels.
In the daily review of Bitcoin, the cryptocurrency was still seen at a price level of $43,000. At the time of writing, it had a nearly neutral appearance and had experienced a 0.01% decrease.
