Bitcoin speculators hit all-time lows as Grayscale says BTC like 2016

[Lenipiw]

Data says hodlers are gaining and speculators are vanishing from Bitcoin, with one commentator arguing that the bull run is “just beginning.” Bitcoin (BTC) hodlers are beating out speculators in a sign that the cryptocurrency’s bull run is “just beginning,” data suggests.

Part of asset manager Grayscale’s Valuing Bitcoin report issued this month, the Hodler vs. Speculator Index (HSI) is showing highly bullish divergence.

Grayscale notes “similar structure to early 2016”
HSI measures Bitcoin activity from wallets in order to give an impression of how network participants are using BTC — and market sentiment as a result.
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