The Unspent Supply of Bitcoin Miners Nears the All-Time High

- Advertisement -spot_imgspot_img

Over a short period of time, the crypto market has had an unexpected growth, thus affecting a lot of people in their decision-making about the cryptocurrencies they hold.

Furthermore, compared to the All-Time-High (ATH) supply, the level of unspent supply of Bitcoin miners is below 500 BTC, according to Glassnode’s data.

Different from others in this market, Bitcoin for miners is considered a reward, and never something to spend on-chain. This reward comes when solving a block, while the other stakeholders in this market plan to sell it as fast as possible. 

Analyzing the whole crypto market, each time there were signs of recovery from the bulls, Bitcoin showed a decreasing line of the graph. Furthermore, the market cap of cryptocurrencies is at the price of $2.17 trillion, while the percent drop over the last 24hours is 2.55%. 

Time for Another Bitcoin Meltdown or Time to Invest?

The impact of speculators and crypto experts in this market is huge. Their opinions and predictions affect all the others in investment opportunities. Currently, they expect Bitcoin to go low to $40,000.

According to Kraken’s chief advisor, Jesse Powell, Bitcoin will also have a crash in the upcoming year, just as the meltdown of the US dollar. During an interview, he mentions that Bitcoin could go below $40,000, as well as the green bill could go to zero, so his advice includes taking immoderate U.S. dollar debt, but always considering the negative interest rates.

Despite this analysis, he still suggests to investors, and other participants in this crypto market to take leverage of Bitcoin and use this opportunity to assemble as much of it as possible. 

Additionally, the author of the book ‘Rich Dad Poor Dad’, Robert Kyosaki has predicted the next collapse of Bitcoin. He emphasized the ‘Fake Inflation’ that will drive the crash of the crypto market, while on the other hand, his advice was to take advantage of this opportunity for investment, expecting the market will become green again when this ‘fake inflation’ smashes.

Also Read:

Elon Musk Compares Bitcoin With Dogecoin, Says Dogecoin is Better Suited for Payments

Brazil Close to Regulating Bitcoin

US Becomes the Biggest Destination for Bitcoin Miners Amid China’s Crypto Ban

El Salvador to Develop Volcano Powered Bitcoin Mining Project

Latest news
Related news
- Advertisement -spot_img