It seems that the vast majority of Bitcoin holders are serious about using “HODL” as their main strategy. One of the biggest trends in the Bitcoin community is to use DCA buying to slowly accumulate coins. While such an approach may seem a little bit weird to a traditional investor, it works just fine for those who see BTC as their only shot at becoming rich.
The philosophy of “HODL” is to wait indefinitely until Bitcoin reaches new incredible heights. To many, it is not a question of “if”, but a question of “when”. The community strongly believes that Bitcoin still has the potential to bring in outstanding profits which is true to a certain degree. BTC is in a tough position right now as many analysts predict that the most important crypto asset won’t “bottom out” until the whole economy does it first.
However, it is a forecast that does not scare over 62% of all BTC holders who did not sell any coins during the winter. Interestingly, many investors do not sell their holdings despite the price barely holding over $20 thousand. The token loses and gains up to 1.5% daily, but it seems that the community rallies often enough to keep the price in the sideways direction instead of supporting bulls or bears.
The majority of holders from the /r/bitcoin community on Reddit are talking only about buying now as many see this support level as the bottom price. Many technical analysts predict a new dip and a further fall to the $15 thousand mark which will not be devastating to those who have BTCs but may dramatically affect people with leveraged long positions.
Many think that it is a good moment to buy in preparation for a huge rally that will allow Bitcoin to punch through the resistance level. Whether bulls or bears will win the next week does not matter. What matters is that long-term investors seem to be very confident in the eventual recovery of prices and a new bull run in the nearest future.