Closely followed on-chain crypto analyst Willy Woo to determine if the bull market is still going on in the leading crypto asset. bitcoinexamined the in-chain measurements of .
Speaking in a new episode of The Bitcoin Forecast, Woo took a look at the ratio of long-term holders (LTHs) and short-term holders (STHs) of BTC.
Bitcoin holders with BTCs older than five months are considered LTH, while those less than five months old BTCThose who own are considered short-term owners.
Woo says that when LTHs accumulate the highest, BTC tends to ignite a strong rally that allows long-term holders to dump their holdings into a new group of short-term holders. According to Woo’s data, LTH has peaked in the past few weeks.
“The long-term holders are at their peak, and so generally when we’re in this region, the peak accumulation of investors happens. These investors tend to sell in “rallies”. You saw it at the last rally in October last year, and when their ammo runs out, short-term holders hold those coins, often new weak-handed investors…
We’re in a strong down-sell zone, so they’re incentivizing to make a profit.”
Woo pointed out that strong-handed LTHs are accumulating all the BTC they can, and a bear market is unlikely to occur. While it’s hard to say how long it will last, Woo says the bull run will continue as long as LTHs roll over their coins to STHs.
“So structurally it creates a very bullish outlook. Strong-handed investors have all their arsenals. I don’t see any bear markets as we zoom out…
Typically, this is a sign of strength, so based on how long this starts to fall into these lower zones, we can give us a timing signature on how long our bullish phase of the market will last…
I expect this ‘run’ to continue and maybe mid 2022, maybe this will get around too much. Not seen yet, but structurally bullish in the long run.”
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