Bitcoin Bits Ripple (XRP), Ethereum (ETH) and Dogecoin (DOGE) in Average Duration Terms

TL; DR

Bitcoin is typically held for 4.2 years, while Ether and Dogecoin average around 2 years. Long-term Bitcoin holders could see huge gains with returns of up to 15x from 2017 to 2021. The price of Bitcoin recently reached $30,000, anticipating future rallies.

Investing in cryptocurrencies, especially Bitcoin (BTC), can be a successful strategy, assuming that people are smart enough to hold onto their assets during tough times and sell the market at the right time.

According to research conducted by IntoTheBlock, the average retention period for a primary digital asset is 4.2 years. In comparison, people tend to hold Ether (ETH) and Dogecoin (DOGE) for about 2 years (on average), the data science firm added. Other cryptocurrencies ahead of BTC include Ripple's XRP.

Did you know that the average holding period for Bitcoin is 4.2 years? That's twice as much as ETH and Doge!🔗 pic.twitter.com/N1p29vWgEn

— Into TheBlock (@intotheblock) October 19, 2023

It is worth noting that if a certain investor decided to part with their BTC holdings today (after remaining untouched for 4.2 years), they would make a profit of almost 200%.

What's more, those who entered the Bitcoin ecosystem in the summer of 2017 and sold in the fall of 2021 (when the asset was in a major bull run) made about 15x their initial investment.

The price of the major cryptocurrency has recently headed north, surpassing the required $30,000 level. Additionally, some analysts expect further rallying ahead, fueled by favorable conditions in the coming months.

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