TL;DR
- Bitcoin is typically held for 4.2 years, while Ether and Dogecoin’s averages are around 2 years.
- Long-term Bitcoin holders can see significant gains, with some enjoying up to 15x returns between 2017 and 2021.
- Bitcoin price recently reached $30,000, awaiting future rebounds.
Investing in cryptocurrencies, particularly Bitcoin (BTC), could prove to be an effective strategy, provided people are smart enough to hold on to their assets during turbulent times and manage to time the market to sell when the time comes. appropriate.
According to a study conducted by Into The Block, the average holding period for the main digital asset is 4.2 years. In comparison, people tend to hold Ether (ETH) and Dogecoin (DOGE) for around 2 years (on average), the data science company added. Other cryptocurrencies that BTC is ahead of include Ripple’s XRP.
It is worth noting that if a certain investor decided to part with their BTC holdings today (after leaving them untouched for 4.2 years), they would see a profit of almost 200%.
Additionally, those who entered the Bitcoin ecosystem in the summer of 2017 and sold it in the fall of 2021 (when the asset was in a massive bull run) would have earned almost 15 times their initial investment.
The price of the leading cryptocurrency has been heading north recently, surpassing the coveted $30,000 level. Additionally, some analysts expect further recovery in the future, propelled by possible favorable factors that may arise in the coming months.
Here are some of the most intriguing BTC predictions you should know: