• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
bitcoin

Fund Manager Reminds Bitcoin Investors to “Be Patient” as Price Stalls in $9ks

Nick Chong by Nick Chong
3 years ago
in Bitcoin Price
0

Despite a booming stock market that is nearing all-time highs, Bitcoin has been stalling in the $8,000s and $9,000s. The relative weakness BTC has expressed compared to equities has had some worried, worried to the point where some are expecting a strong price breakdown.

It is important now more than ever before to “be patient” with Bitcoin, according to a top investor in the space. Here’s why.

It’s a Waiting Game for Bitcoin

Analysts over the past few months have come to the conclusion that a “perfect storm” has brewed for Bitcoin. That’s to say, if there was ever a time for the cryptocurrency to succeed, now would be it.

Bloomberg’s Mike McGlone wrote in a report published early in June that “something needs to go wrong” for Bitcoin not to appreciate in the coming months. McGlone’s argument pivoted around the institutional adoption of BTC, the influx in demand for the asset, and central bank money printing.

BlockTower Capital’s analysts said that the “macro case for Bitcoin has never been more obvious.”

With Bitcoin now stalling and seemingly poised to roll over, investors have understandably worried as aforementioned.

Ikigai Asset Management’s Travis Kling, however, is reminding investors to be patient: 

“A lot of folks have been asking why BTC isn’t higher right now. If you own Bitcoin, just be patient. BTC has historically transferred wealth from impatient hands to patient. Just be patient. Central banks are doing all the leg work for you as we speak. Just be patient.”

A lot of folks have been asking why BTC isn’t higher right now.

If you own #Bitcoin, just be patient.

BTC has historically transferred wealth from impatient hands to patient. Just be patient.

Central banks are doing all the leg work for you as we speak. Just be patient.

— Travis Kling (@Travis_Kling) June 16, 2020

This is likely in reference to Bitcoin’s propensity to take multiple months accumulating, then breaking out of the consolidation to establish a macro trend.

Prior to crashing ~50% from $6,000 to $3,150 in late-2018, the cryptocurrency traded at $6,000 for around three months. And prior to rallying from the hundreds to $20,000, BTC settled in between $200-400 for around half a year.

Investors Are Becoming Increasingly Patient

Investors are, in fact, heeding the advice of being patient touted by prominent names in the space.

Alistair Milne recently observed that blockchain data shows that more than 61% of all Bitcoin in circulation has been “inactive” for over a year. That’s to say, 61% of the ~19 million coins in circulation haven’t been touched or moved from their original addresses in at least a year.

“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 …”

Bitcoin HODLIng
Bitcoin “HODL wave” indicator (one year or more setting) shared by Alistair Milne, from LookIntoBitcoin.com

This propensity to HODL amongst Bitcoin investors may have a bullish impact on the price of the cryptocurrency.

As the chart above indicates, the last time this much of BTC’s circulating supply was inactive was at the start of the bull run that took Bitcoin from the hundreds to $20,000 in just around two years.

Featured Image from Shutterstock 
Price tags: xbtusd, btcusd, btcusdt 
Fund Manager Reminds Bitcoin Investors to "Be Patient" as Price Stalls in $9ks
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for many years now. My pieces and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Bitcoin

Bitcoin Milestone Ahead: Analyst Bullish On BTC Hitting $36,000

3 months ago
Bitcoin Investors Remain Greedy Despite High Market Volatility – Report

Bitcoin Crash: Derivative Traders Lose $202 Million In 24 Hours

7 months ago
Bitcoin Investors Remain Greedy Despite High Market Volatility – Report

Bitcoin Price Consolidates After Failing To Break Through Key Resistance Level

7 months ago
New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

8 months ago
Bitcoin Investors Remain Greedy Despite High Market Volatility – Report

Bitcoin Derivatives Market Volumes Show Bullish Trend After 2022 Downturn

8 months ago
50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

8 months ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • Mercante Technologies to Launch AI-Powered Customer Support...

    1 hour ago
  • While Litecoin (LTC) and Aave (AAVE) try to break key...

    22 hours ago
  • Bitcoin (BTC) and Compound (COMP) At the Market Crossroads...

    23 hours ago
  • Next 10x Crypto Gems: 6 Coins Under $0.50 To Buy Now

    23 hours ago
  • TokenCoin — Guide to Earning Passive Income through...

    23 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.