The Bitcoin Hodlers Still Exist:
There are many different reasons why Bitcoin isn’t a major payment method yet. A lot of early investors are still holding on to their Bitcoin balance in the hopes of seeing the value going up. Late last year, such a major price spike occurred, which caused all kinds of consequences.
For the Bitcoin holders, it was a validation of their strategy working first and foremost.At the same time, the Bitcoin price has taken a massive dip throughout early 2018. For the average Bitcoin holder, that is not a positive development. There’s still a very good chance a new Bitcoin all-time high will be reached later this year or in 2019. Not everyone can wait for such a spike, though, as the current volatility makes it a lot easier to score quick profits – or losses.
While there are still plenty of reasons to become a Bitcoin holder, the paradigm is shifting. During last year’s bull run, a lot of long-term holders decided to liquidate assets to those seeking short-term gains. While that is not exactly uncommon, it does show some of the initial belief in Bitcoin may be waning. At the same time, distributing the wealth to more people also indicates Bitcoin is still growing as a currency.