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Are Day Traders Ruining Bitcoin (BTC)? Short-Term Speculators on the Rise

Bitcoin day traders appear to be on the rise. The Financial Times reports that there is as much Bitcoin (BTC) owned by short-term speculators as there is by HODLers, or long-term investors, now. Bitcoin Day Traders Catching Up Blockchain research company Chainalysis discovered the Bitcoin data. This data shows that the amount of BTC held by day traders has increased to 5.1 million Bitcoin since December 2017. Bitcoin HODLers, people who have held BTC for longer than a year, together hold around 6 million Bitcoin. While these numbers aren’t quite on par yet, the chief economist at Chainalysis, Philip Gradwell, believes that this might be a “fundamental…

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