This Bitcoin HODLer Metric Has Just Flipped Green For The First Time In 8 Months – Here’s What This Means

This Bitcoin HODLer Metric Has Just Flipped Green For The First Time In 8 Months – Here’s What This Means
фото показано с : zycrypto.com

2021-6-18 14:03

The long wait is over, or so it appears as Bitcoin holders prepare to set foot into a green zone after seven months of red hot drought.

The earliest signs of a bullish rebound for Bitcoin were sighted on Glassnode’s on-chain metrics this week. Bitcoin users joyfully watched as the index flipped an unprofitable red-run that had gripped hodlers of the apex crypto-currency since mid-November.

Popular crypto expert, Will Clemente noted this latest bitcoin development as a sequel to last month’s net holders position outlook which showed a large sales of Bitcoin coming from the camp of inpatient short-term holders.

What Does This Imply?

The biggest take from this new index is that patient bitcoin holders may now finally see positive returns on their long-term investments.

It also may show that the market has fully corrected holding positions as was seen last month, where Bitcoin’s dip below the $35,000 resistance frightened many new entrants, including young whales (who held large amounts of bitcoin for less than three months), leading to a massive liquidation drive that transferred coins from young holders to old and experienced holders.

BTCUSD Chart By TradingView Who are the catalysts?

It is unclear what exactly may have spruced the ground for a much-needed leap up, but one cannot underestimate the impact of Bitcoin’s recent acceptance by the government of El-Salvador. Having emerged as the first of its kind to tear through the government’s veil of financial legitimacy, the scale of its operation and use may now become more expanded than ever before. This is most likely to spur more citizens and governments of other countries to innovate their financial system around the digital currency with growing national acceptance. 

Others may attribute part of its recent success to Elon Musk’s turncoat claims about Tesla returning to Bitcoin, after ditching the currency in a precarious moment.

But one thing inevitably clear, in the world of crypto influencers is the role of Michael Saylor to keep the masts of bitcoin sailing amidst the troubled waters of last month. From a conference to address energy concerns to an additional injection of $1 billion into bitcoin, the CEO of MicroStrategy has done a lot to build resistance for the apex currency.

Going Forward

As Will Clemente spots the early symptoms of progress, it is expected that many investors who remained skeptical about buying and waiting through the dip, would want to cast in their lots before the entry price soars to the point of eroding leverage.

This means more activity for Bitcoin, more health value upshot, and more reward for those who took Robert Kiyosaki’s advice to ‘buy the dip.’

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Источник: zycrypto.com

bitcoin green → Результатов: 126


Фото:

Bitcoin Green (BITG) – The Green Protocol And The Changing Face Of Cryptocurrency

Whilst Bitcoin aims to be the future for currency, many forget that actually, Bitcoin is a huge threat to the environment and the planet it wishes to support. What’s the point in creating a currency for the future, if there’s no future for the planet in the first place? That’s what Bitcoin Green wants to change, via The Green Protocol, a stunning new concept that uses a super efficient proof-of-stake consensus, designed to repair Bitcoin’s environmentally devastating attitude.

2018-7-31 13:45


Notes on Blockchain Governance

In which I argue that “tightly coupled” on-chain voting is overrated, the status quo of “informal governance” as practiced by Bitcoin, Bitcoin Cash, Ethereum, Zcash and similar systems is much less bad than commonly thought, that people who think that the purpose of blockchains is to completely expunge soft mushy human intuitions and feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy, and loosely coupled voting as done by Carbonvotes and similar systems is underrated, as well as describe what framework should be used when thinking about blockchain governance in the first place.

2018-7-21 23:03


The Land is Green : Bitcoin Punches Back From $6,200 To Hit $6,600

Bitcoin after struggling all throughout the weekend has come out on Monday with some real hard punches. Before struggling with the $6,200 price drag that began on Thursday of last week, bitcoin has been steadily hanging around $6,300 for the last couple of weeks until the fateful Thursday when it got a sucker punch that […] The post The Land is Green : Bitcoin Punches Back From $6,200 To Hit $6,600 appeared first on ZyCrypto.

2018-7-16 20:56


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