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Recently, data has revealed a surprising similarity between Bitcoin and Shiba Inu: the composition of their holders by time held.
For Bitcoin, the holder's composition is as follows:
69% have held for more than 1 year.
Bitcoin (BTC) 'Santa Rally' Might Be Dangerous, XRP Critical But Stable, Dogecoin (DOGE) Volume Hints at Bearish DropThere's Silver Lining for XRP Bulls Following 6% PlungeBitcoin Price Might Hit $1 Million Next Year If This Happens, According to Bitwise ExecShiba Inu (SHIB) on Verge of Death Cross: Possible Scenarios25% have held for 1 to 12 months.
Advertisement6% have held for less than 1 month.
Shiba Inu’s holders present a similar distribution:
77% have held for more than 1 year.
21% have held for 1 to 12 months.
2% have held for less than 1 month.
This striking resemblance indicates that a significant majority of both Bitcoin and Shiba Inu holders are in it for the long haul, which could imply a level of confidence and stability in these assets.
Analyzing Bitcoin's price chart, the asset shows a bullish trend, with consistent higher highs and higher lows, a positive sign for continued growth. The recent break above the $50,000 resistance level suggests strong buying pressure, and if Bitcoin can maintain its position above this level, it could test the next resistance at $53,000.
Shiba Inu, on the other hand, has shown a commendable recovery from its lows, steadily climbing above its moving averages, which now serve as support levels. The immediate resistance level to look out for is at $0.00000950. A breakout above this could lead to a test of the $0.00001200 level. On the downside, the support at $0.00000790 is crucial; maintaining above this level could attract more buyers.
Arman ShirinyanThe similarity in holders' composition suggests that despite their different market positions and use cases, Bitcoin and Shiba Inu have cultivated a base of investors who believe in their long-term value. This could be a sign of maturation in the cryptocurrency market, where the "get rich quick" mentality is being overshadowed by a more strategic, long-term investment approach.
Yuri Molchan
Dan Burgin
Alex Dovbnya