Short-Term Bitcoin Holders are Seriously Considering a Sell-Off

This is a bad phase for short-term Bitcoin holders to expect profit from the downfall of Bitcoin

Bitcoin! The most popular cryptocurrency in millions of crypto wallets across the world. It is highly profitable for long-term Bitcoin holders. But is it for the short-term Bitcoin holders? The major drop in the cryptocurrency price of Bitcoin has affected their crypto wallets in recent times. These short-term Bitcoin holders are concerned about whether to do a Bitcoin sell-off in this highly volatile cryptocurrency market. Sell-off cryptos tend to affect crypto wallets, according to the cryptocurrency price situation in the cryptocurrency market.

Since the Bitcoin price has been crashed down to US$32,068.66 on May 10, 2022. Sell-off cryptos is a popular option for crypto investors to eliminate the loss in crypto wallets. The highly volatile cryptocurrency market is not offering any guarantee of when this bad phase will end for Bitcoin. This cryptocurrency has hit the lowest level since July. It is down more than 50% from its highest recorded price of reaching US$68k in November 2021.

Thus, short-term Bitcoin holders are opting for sell-off cryptos for the impact of the downhill of the blue-chip Dow Jones Industrial Average. Short-term Bitcoin holders are on the edge for the sell-off cryptos to save returns in their crypto wallets. The popular cryptocurrency has again disappointed millions of Bitcoin holders and they want to shift to stable coins in the future.

They are more concerned because the UST (Terra) which is known for being a stablecoin has lost one peg of the US dollar in recent times. It is known that the short-term Bitcoin holder bases indicate the current changing market conditions efficiently. The huge sell-off of cryptos happened among a particular range of short-term Bitcoin holders— one day to six months of Bitcoin in crypto wallets.

That being said, it is highly beneficial for short-term Bitcoin holders to consider sell-off cryptos like Bitcoin because they are not predicting any profit from this cryptocurrency in the nearby future. Bitcoin is below the US$35K range whereas it should have reached US$50k at this point in the highly volatile cryptocurrency market.

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