Why is Bitcoin not rising during this period (why is Bitcoin not increasing)
Why hasn’t Bitcoin risen during this period? Why hasn’t Bitcoin risen during this period? Why has Bitcoin prices risen? Bitcoin has experienced significant fluctuations in recent days
According to Bloomberg, the average trading volume of the Cryptocurrency exchange in the past week has dropped by 25% to 30% from the end of April to the beginning of August, according to Glassnode data; Compared to the same period last year, this number has increased by about 40% to 50% (data from Skew), marking the first similar trend since July 2017; In addition, in mid September, Bitcoin futures open positions on Coinbase also reached a historic high (ATH) As the price of Bitcoin drops, the Bitcoin market sentiment is gradually returning to rationality. After experiencing varying degrees of rebound between October and December, Bitcoin has now returned to above $55000. However, although some funds have recently flowed into the security platform, Bitcoin is still subject to lateral fluctuations: the Open interest of Bitcoin futures on Bitmex has fallen below $5 billion. In addition, the spot premium of Bitcoin is also constantly expanding, with a drop of nearly 60% as of the time of publication
Why Bitcoin is not getting more and more
Editor’s note: This article is based on data and is authorized to be reprinted by the Daily Planet.
The price volatility of Bitcoin has been decreasing over the past decade, and the current situation seems to be the opposite. Although many people have been confused or even skeptical about this issue for a period of time, the fact is not that – although it has indeed seen some shocking things. But in the long run, we will still believe in its value and potential With the development of Cryptocurrency industry and more and more institutional investors entering this field, people are gradually realizing some challenges faced by Bitcoin as a new asset category. No one knows if you have any Bitcoin. “Since 2009, there has been a large amount of Bitcoin being mined. According to CoinMetrics, a blockchain data analysis company, as of October 13, 2021, over 1 million active addresses were in a dormant state, which means that less than half of the entities hold or trade Bitcoin. These numbers indicate that most participants are not in a hurry to purchase more tokens, “they are just trying to get more”. Therefore, when someone buys a large number of newly cast products, the price often increases significantly. However, as many miners have closed their networks, the valuation of the industry has become more expensive: “I believe that if you want to become a real large enterprise to manage your wealth and cooperate with those engaged in other businesses, you need to make at least one investment to ensure your Profit maximization,” he added. So, no matter how much risk you are willing to take on yourself, you should consider how to avoid such losses. If you want to hold Bitcoin for the long term instead of increasing speculative assets, you must maintain a cautious attitude. In addition, for those seeking faster growth and safer investment tools, Bitcoin has powerful functionality and scalability characteristics The adoption of Bitcoin can be attributed to several factors, first of all, technological progress; Secondly, with the continuous development of the Bitcoin ecosystem, it will attract more users to use it to store and transfer funds; Finally, due to their complexity and high demand, they may produce very different results and are easily affected by fraud, hacker attacks, and manipulation.
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