Recent data indicated that the “HODLing” mentality towards Bitcoin is constantly rising, as the number of digital currencies that have not moved in two years or more reached its highest level in 3 years.

Meanwhile, bitcoin miners are following the lead of bitcoin holders as their bitcoin holdings hit a two-year high.

HODLing Mindset Rising Among Bitcoin Investors:

Analytics company trackingglassBehavior of Bitcoin investors by examining Bitcoin movements based on addresses and wallets.

According to a recent report, the number of Bitcoin HODLers has increased as spending has declined since the summer of 2019, and has continued ever since.

Consequently, the proportion of bitcoin supply that has not moved for at least two years has increased from 34% in July 2019 to 44% at the time of writing this article.

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The current level is the highest point reached in more than three years.

Interestingly, this particular measure reached an all-time high of more than 46% prior to the currency’s historic price increase in late 2017 and early 2018.

However, with Bitcoin approaching an all-time high of nearly $20,000, investors were dumping their cryptocurrencies and the trend continued for more than a year before the 2019 reversal.

Another measure that re-emphasizes the growing bitcoin holding mentality of bitcoin investors is the so-called HODL wave for more than a year from now.

As the cryptocurrency has not moved on the blockchain in the last 12 months or more.

Cryptowatch recently showed that bitcoin holdings reached a new all-time high of over 63%.

Miners also prefer to keep Bitcoin rather than sell it:

By exploring the addresses of miners, Glassnode data revealed that they haven’t sold their coins either, despite the bitcoin price rally since the third fork.

Glassnode data indicated that miners currently own more than 1.8 million bitcoins, the highest value in more than two years.

Like bitcoin investors, miners cut short their selling in the summer of last year.

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The chart above showed that they sold volumes somewhere around the half in May 2020.

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Perhaps what was mentioned above is positive and optimistic for Bitcoin, as miners are usually incentivized to sell their cryptocurrency to cover the electricity costs from the mining process, but instead they keep it and thus not increase the supply.

Additionally, the bitcoin price has gone up over 35% since the bounty halving, which gave them more reasons to sell, but they didn’t.

Despite halving their block reward of 6.25 BTC, miners prefer to stick with their coins for now.

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