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- Bitcoin has been on a tear, trading up more than 500% this year.
- But it doesn't look like bitcoin investors plan on giving up their coins just yet, according to a new LendEDU survey of 564 American bitcoin investors.
- The survey found the average bitcoin investor doesn't plan to sell until bitcoin reaches $196,165.
Bitcoin fanatics often tout the motto "hodl" with pride.
The phrase, which is just a misspelling of hold, is said to derive from the chasms of Reddit during the earliest days of crypto. Today #hodl litters crypto-Twitter with traders pledging to their followings that they are in it for the long-haul.
It doesn't look like those investors are kidding, according to a new LendEDU survey. The survey found the average bitcoin investor doesn't plan to give up their bitcoin until the cryptocurrency reaches $196,165, or 26 times its current value.
Just 32% of investors surveyed said they have ever sold some of their bitcoin holdings.
Bitcoin was trading at 7,682 on Thursday, although like a roller coaster it is subject to dramatic peaks and valleys.
LendEDU also asked investors how long they plan to hold their bitcoin. By the looks of it, they expect the price to skyrocket in the short-term. Take a look:
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See Also:
- 'Market manipulation 101': 'Wolf of Wall Street'-style 'pump and dump' scams plague cryptocurrency markets
- WALKTHROUGH: How traders 'pump and dump' cryptocurrencies
- Cryptocurrency trading volumes reached a record high over the weekend that beats some US stock exchanges
SEE ALSO: We just got a glimpse of how bitcoin futures will work
