Secret Bitcoin Accumulation by $57 Trillion Titans: Next Bull Run to Shatter Records?

2023-7-14 10:21

Bitcoin is displaying unprecedented behavior that could redefine the next bull run, suggests a Twitter analyst Satoshi (@satoshimoneybtc). The crypto maven, known for his in-depth technical analysis and foresight, posted a thread highlighting three phenomena Bitcoin is exhibiting for the first time in its 14-year existence: record-breaking hash rates, a decline in supply availability, and an influx of institutional money, all taking place amid a prevailing bear market.

Crypto Market Experiences Growth in July 2023: Explore Potential Opportunities

Discover the intriguing developments influencing the crypto market and attracting global investor interest. Witness the impressive achievement of Wall Street Memes token, which raised over $12 million, as it highlights the immense possibilities in the world of cryptocurrency. Explore the promising High-Potential Token, $YPRED, empowering the world’s first “All-in-One” AI Ecosystem. Seize the chance to be a part of the crypto phenomenon and potentially benefit from its success.

Show more +Show less –

In his well-received thread, the crypto expert pointed to the robust growth in the Bitcoin hash rate, even during the current bear market. The hash rate is a measure of the processing power devoted to Bitcoin’s network. It’s a reliable indicator of the overall health and security of the Bitcoin network. The current all-time highs could be attributed to a diverse list of nations and companies, including government entities from Bhutan, Venezuela, Laos, and El Salvador, and energy giants such as Japan’s Tepco, Russia’s Gazprom, and US’ Exxon Mobile.

But this development isn’t the only one shaking up the Bitcoin universe. Satoshi, the well-respected technical analysis expert, identifies a trend of “supply suffocation.” The supply of Bitcoin on exchanges has reduced by over one-third, from 3.1 million in March 2020 to just 2.0 million in July 2023. This reduction is contrary to the historical pattern of coins being sent to exchanges and raises questions about who has been absorbing these Bitcoins.

Satoshi hypothesizes that large financial entities may have played a part in this supply squeeze. He posits that asset managers and banks controlling a staggering $57 trillion might have been quietly accumulating Bitcoin since 2020 before announcing their exchange-traded funds (ETFs) publicly. This potential accumulation, coupled with the impending Bitcoin halving event due in 323 days, when new Bitcoin supplies will be cut in half, could be brewing a perfect storm for the next bull run.

Interestingly, this activity continues unabated during the current bear market, prompting Satoshi to question if we are witnessing the start of a global “hash war” or even something bigger.

“Isn’t it strange that all of this data is doing something we’ve never seen before, in the middle of a bear market?” Satoshi posits in his enlightening thread.

Satoshi concludes with a hint towards the possible role of nation-states in Bitcoin accumulation. He suggests that while El Salvador has proudly broadcast its Bitcoin adoption, other countries might not be as transparent, adding another layer of intrigue and excitement to the future of Bitcoin.

This analysis by the famed Twitter trader highlights the dynamic shifts happening within the Bitcoin ecosystem. It provides food for thought for all Bitcoin enthusiasts, from the casual observer to the most ardent believer.

.rh-colortitlebox{margin-bottom:30px;background:#fff;line-height:24px;font-size:90%}.rh-colortitlebox .rh-colortitle-inbox{display:flex;align-content:center;padding:15px;font-weight:700;font-size:110%; line-height:25px}.rh-colortitlebox .rh-colortitle-inbox i{line-height:25px; margin:0 10px; font-size:23px}.rh-colortitlebox .rh-colortitle-inbox svg{width:25px;margin-right:10px}.rh-colortitlebox .rh-colortitle-inbox-label{flex-grow:1}.rh-colortitlebox .rh-colortitlebox-text{padding:20px}.rh-colortitlebox-text>*{margin-bottom:20px}.rh-colortitlebox-text>:last-child{margin-bottom:0}.rh-toggler-open{height:auto !important} .rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important} .rh-toggler-open .rh-tgl-hide{display:block !important} .rh-tgl-show, .rh-tgl-hide{cursor:pointer} .rh-contenttoggler *{box-sizing: border-box !important} .rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;} .rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}

The post Secret Bitcoin Accumulation by $57 Trillion Titans: Next Bull Run to Shatter Records? appeared first on CaptainAltcoin.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 62170.37 (+0.18%)
Объем 24H $30.414b
Изменеия 24h: -3.09 %, 7d: -2.56 %
Cегодня L: $61851.5 - H: $64192.5
Капитализация $1246.883b Rank 1
Цена в час новости $ 31165.95 (99.48%)

bitcoin run secret records trillion titans shatter

Источник: captainaltcoin.com

bitcoin run → Результатов: 126


Bitcoin Bull Run: Past Its Prime, Or Poised For A Correction? Analyst Raises Eyebrows

Famed trader Peter Brandt has thrown a wrench into the gears of Bitcoin’s celebratory parade. In a recent analysis titled “Does history make a case that Bitcoin has topped?”, Brandt throws cold water on the idea of a limitless price surge, suggesting the cryptocurrency might be nearing the summit of its current bull run. Related […]

2024-4-28 16:30


Фото:

Record Breaking Unmoved Bitcoin Data Sparks Expectation of Imminent Bull Run

The amount of bitcoin that has not moved in over a year is at an all-time high. The last peak was in 2016, before the bitcoin bull run that saw the price spike to $20K. Several forecasting models have predicted that the price of bitcoin will reach $20K this year and the next bull run […] The post Record Breaking Unmoved Bitcoin Data Sparks Expectation of Imminent Bull Run appeared first on Bitcoin News.

2020-7-1 21:10


Фото:

Bitcoin Price Watch: Is Another Bull Run in Store?

At press time, bitcoin is trading for over $6,700. That’s roughly $400 more than where it’s stood over the past week, and many are wondering if a year-end bull run is at hand. Recently, the Securities and Exchange Commission (SEC) sought further industry help and commentary regarding the bitcoin ETF submitted by joint venture VanEck […] The post Bitcoin Price Watch: Is Another Bull Run in Store? appeared first on NullTX.

2018-9-22 21:09


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru