A recent poll by MicroStrategy CEO Michael Saylor reveals a bold stance among Bitcoin holders, with over a third expressing reluctance to sell even if BTC prices soar to $1 million. The survey, drawing over 87,000 responses, indicates that 30% of participants would consider selling at $100,000, while others have higher thresholds, with 19% waiting for $250,000 and 14% for $500,000 per BTC.
This steadfastness among hodlers is contributing to an increasing dormant Bitcoin supply, suggesting a strong belief in Bitcoin's future value. The market dynamics show a contrast, with some profit-taking in bull markets and panic selling in bear markets, influenced by major players like whales, corporate holders, and emerging ETF issuers.
Despite this strong hodler sentiment, Bitcoin's price has been relatively stable in the recent period, trading around $43,940. Resistance is noted at $44,000, with a significant level at $47,000 suggesting potential upward movement before any market correction. This scenario occurs amidst a slight decline in altcoin values and the overall cryptocurrency market capitalization.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.