Opinion: Many analysts are happy that long-term holders are accumulating Bitcoin.

Is the reason they don't sell their BTC because they are saving and wanting to make a profit in the future?

Not necessarily, because, as you can see in the graph of realized prices by group, some are under water. A group that bought BTC 2-3 years ago on average continues to be in the red as their average realized price is $45,000.

Some of them will likely sell BTC when its price reaches the purchase price, making no profit or loss.

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