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.
#Bitcoin miner unspent supply is currently sitting just 500 $BTC below ATH.
These coins are issued to miners as a reward for solving a block, but have never been spent onchain.
Miners started HODLing significantly more $BTC since March 2020.
Live Chart: https://t.co/D2jZTD0O52 pic.twitter.com/vJy1G41Xvf
— glassnode (@glassnode) December 20, 2021
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.
FED & Biden pushing FAKE INFLATION. Crash and Depression coming. Gold, silver, Bitcoin, real estate will crash too. Ready to buy more gold, silver, Bitcoin, real estate after crash has crashed. Time to get richer after fake inflation crashes. Be aware. Take care.
— therealkiyosaki (@theRealKiyosaki) December 9, 2021
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