In the Crypto Market, Long-Term Holders Stay Bullish Despite Short-Term Pains

In the crypto market, long-term holders remain bullish despite short-term difficulties

The cryptocurrency market has been hit hard in recent weeks. The bitcoin price has dropped more than 40% in the past month, while Ethereum and Litecoin have seen double-digit percentage losses. However, despite this long-term downtrend, investors who have held their crypto for at least six months are still making money.

According to a Bloomberg report, 1 in 5 crypto investors have held since the beginning of 2018 and saw their portfolio value increase by 10% or more during that time. This may be because long-term holders are less likely to panic when prices drop.

The report also notes that long-term holders are more likely than short-term traders to take advantage of tax breaks offered by governments around the world. This could help explain why some countries have announced tax breaks for crypto investors.