If you’ve perused Crypto Twitter at all, you’ve likely heard the term “HODL” mentioned time and time again in relation to “Bitcoin.” A misspelling of the word \u201chold,\u201d HODL is an industry joke used by cryptocurrency investors who believe that the price of BTC will appreciate with time, primarily due to adoption and the asset\u2019s disinflationary inflation schedule, created by \u201chalvings\u201d every four years.<\/p>\n
While some see this as a mere meme, the data shows that investors are taking the HODL joke to heart, which is something that may imply a price surge is on the horizon.<\/p>\n
According to Rafael Schultze-Kraft, a co-founder of cryptocurrency analytics firm Glassnode, on-chain data tracking the number of Bitcoin days destroyed, a metric that increases near the tops of bull markets, shows that “HODLers have been diligently holding [in] the last months towards the upcoming halving.” Per historical trends, this means we are far from the end of the ongoing bull market, which is currently in a reaccumulation phase.\u00a0<\/a><\/p>\n Number of days per month in which more #bitcoin<\/a> days were destroyed than on average, aka Binary BDD.<\/p>\n Read: HODLers have been diligently hodling the last months towards the upcoming halving!<\/p>\n H\/t @hansthered for this metric \ud83d\udc4f<\/p>\n Live data: @glassnode<\/a> https:\/\/t.co\/HiEewoGT0S<\/a> pic.twitter.com\/SjVgulfcyx<\/a><\/p>\n — Rafael Schultze-Kraft (@n3ocortex) January 3, 2020<\/a><\/p><\/blockquote>\n\n