Bitcoin Beats Ripple (XRP), Ethereum (ETH), and Dogecoin (DOGE) in Terms of Average Holding Time
TL;DR
- Bitcoin is typically held for 4.2 years, while Ether and Dogecoin averages are around 2 years.
- Long-term Bitcoin holders can see significant gains, with some experiencing up to a 15x return from 2017 to 2021.
- Bitcoin’s price recently tapped $30,000, with expectations of future rallies.
Investing in cryptocurrencies, particularly Bitcoin (BTC), could turn out to be a successful strategy, assuming people are smart enough to hold their possessions during turbulent times and manage to time the market to sell at an appropriate moment.
According to research conducted by IntoTheBlock, the average holding time for the primary digital asset is 4.2 years. In comparison, people tend to keep Ether (ETH) and Dogecoin (DOGE) for approximately 2 years (on average), the data science company added. Other cryptocurrencies that BTC is ahead of include RIpple’s XRP.
Did you know that the average holding time for Bitcoin is 4.2 years? That’s twice as long as ETH and Doge!
🔗 pic.twitter.com/N1p29vWgEn
— IntoTheBlock (@intotheblock) October 19, 2023
It is worth noting that if a certain investor decided to part with their BTC holding today (after keeping them untouched for 4.2 years), they would record a profit of almost 200%.
Moreover, those who entered Bitcoin’s eco in the summer of 2017 and sold in the autumn of 2021 (when the asset was in a massive bull run) would have made nearly 15x on their initial investment.
The price of the primary cryptocurrency has recently headed north, surpassing the coveted level of $30,000. In addition, some analysts expect a further rally in the future propelled by potential favorable factors that might occur in the following months.
Here are some of the most intriguing BTC forecasts that you should know about: