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September 20, 2020
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Bitcoin

More people are breeding bitcoin than selling it Blocksats

According to a recent poll on Twitter by PlanB user, 65% of respondents breed bitcoin, while only 3.9% of them currently sell their cryptocurrencies.

Interesting survey results

Well-known analyst and creator of the Bitcoin SF2 pricing model – PlanB, conducted a survey on Twitter to find out what cryptocurrency enthusiasts are currently doing with their bitcoins. In a survey he asked, “you are currently”, giving participants four options to choose from.

The survey lasted 24 hours and 13,831 people took part in it. As many as 65.6% of voters (9061 people) said they are currently breeding BTC.

Interestingly, the survey shows that bitcoin is bought by far more people than it sells. 18.3% (2.527) of survey participants said they were purchasing BTC. Only 3.9% (538) of voters chose the “currently sells bitcoin” option. The latter claim that they are selling out BTC to invest in altcoins, and then convert them back to the “king of cryptocurrencies” and make a profit.

The fourth option shows how many voters do not yet have bitcoin in their wallet. 12.2% (1685 people) voted for this option. However, this group may consist of people who are “not interested”, “waiting” for price breaks or “hoping” for lower prices before entering the market.

HODLing confirmed

The survey also confirms previous report CoinGacko, which suggested that bitcoin owners BREED it much more than they sell. The report showed that although the BTC price has risen by 78% since the March low, market turnover has fallen by 28%.

What’s more, the report showed that only 27% of the bitcoins available in circulation have been moved since the beginning of 2020. This means that 73% of all existing BTCs have been inactive for a long time. These data were also confirmed by Glassnode CEO

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