We are now seeing signs that not only long-term (7+ years) holders, but also medium-term (6months ~ 7 years) holders are accumulating rather than distributing.
Interestingly, this sign was also seen in '19.3Q, and at that time, the price moved sideways for more than half a year before a rally occurred at some point.
Of course, we can't sure the same pattern repeats again now just like that time. But it is clear is that we can expect another rally at some point in the near future when the portion of long-term investors increases.
Written by SignalQuant